Trump Says He'll Fire Fed Chair Powell If He Doesn't Leave 'in Time'

Summary

Bloomberg's Michael McKee provides analysis on President Trump's threat to fire Fed Chair Jerome Powell and the ongoing legal and political battles over Federal Reserve appointments. He highlights the uncertainty around the President's power to dismiss a Fed board member, the upcoming confirmation hearing for nominee Kevin Walsh, and the potential for conflicts of interest due to Walsh's significant wealth. The segment underscores the high-stakes week ahead for the Federal Reserve's leadership and independence.

• President Trump has again threatened to fire Fed Chair Jerome Powell if he doesn't leave 'on time.'
• Legal questions remain over whether a President can fire a Fed board member without cause, with the Lisa Cook case pending.
• Nominee Kevin Walsh's confirmation hearing is set for next week, delayed partly by his complex financial disclosures.
• Senator Tom Tillis is holding out on a confirmation vote until a Justice Department probe is concluded.
• The Justice Department recently attempted to enter the Federal Reserve for an investigation but was blocked for lack of a subpoena.
• Key questions for Powell and Walsh will center on independence from political pressure and potential conflicts of interest.
• Walsh's and his wife's vast wealth, tied to Estee Lauder, raises questions about recusals and policy impacts.