Is Trump changing his mind?
In a surprise move that shook Washington and Wall Street, President Donald J. Trump reportedly told GOP lawmakers on Tuesday that he was preparing to fire Federal Reserve Chairman Jerome Powell — only to pull back the next day, calling it “highly unlikely,” unless serious wrongdoing emerges.
Two top Republican sources confirmed to The Post that the President discussed removing Powell during a closed-door meeting with congressional allies. According to one senior insider:
“The lawmakers were supportive. The President said it’s likely coming soon.”
But just hours later, Trump addressed the media from the White House and rejected rumors that he had already drafted a termination letter.
“We’re not doing anything right now,” Trump said. “I never rule anything out, but unless there’s fraud, it’s unlikely.”
Still, the President hinted at a possible cause for dismissal — Powell’s approval of a $2.5 billion taxpayer-funded renovation of the Federal Reserve’s headquarters, a bloated project that critics have dubbed a modern-day “Palace of Versailles.”
💸 Taxpayer-Funded Scandal Sparks Outrage
The Fed’s multi-billion-dollar revamp — originally priced at $1.9 billion — has now ballooned by over 30%, all while ordinary Americans struggle to afford groceries, gas, and housing.
“This is the kind of wasteful spending that has plagued Washington for decades,” one GOP strategist told The Post.
Even Elon Musk chimed in, calling the renovation “an eyebrow-raiser that should absolutely be investigated.”
The Dow Jones Industrial Average took a hit following initial reports of Powell’s potential firing, dropping nearly 400 points — but rebounded after Trump’s follow-up comments, eventually closing up 231 points at 44,254.78.
⚠️ Powell Under Pressure as GOP Demands Accountability
Powell’s troubles didn’t end there. During a heated Senate Banking Committee hearing, chaired by Republican Senator Tim Scott, Powell denied The Post’s exclusive exposé on the Fed’s extravagant project — despite the renovation’s planning documents confirming the report’s accuracy.
Adding fuel to the fire, a White House legal adviser revealed that the Fed may have violated federal planning regulations by failing to submit updates to the National Capital Planning Commission.
Economist and former Fed official Andrew T. Levin explained:
“The Federal Reserve Act allows the President to remove a Fed official for ‘inefficiency’ — mismanagement of funds — or ‘malfeasance,’ which includes legal violations.”
📉 Powell’s Record Under Fire: Biden-Era Inflation, High Interest Rates, Lavish Spending
The scandal comes at a time when many older Americans are still reeling from inflation driven by failed Biden-Harris policies. Powell, who was appointed by Trump in 2018, has increasingly clashed with the administration over his refusal to cut interest rates and stimulate the economy.
To make matters worse, the Fed has lost more than $220 billion, meaning money that should’ve helped fund Social Security, Medicare, and our national defense is gone — a consequence of Powell’s disastrous leadership.
As one senior official put it:
“This isn’t just about a building — it’s about broken trust, broken priorities, and broken promises to the American people.”
🦅 Trump Holds the Line
While President Trump has momentarily hit pause on Powell’s dismissal, the message is clear: mismanagement, waste, and elitist arrogance won’t be tolerated.
With a re-election campaign ramping up and a renewed focus on restoring accountability in Washington, Powell may not survive much longer in Trump’s America.
“The American people deserve better,” Trump said. “If you waste taxpayer money — you’re out.”