Himes: White House warning of 'massive market reaction' if Trump fires Powell
Source: The Hill
07/20/25 5:15 PM ET
Rep. Jim Himes (D-Conn.) said Sunday that a White House insider is warning President Trump of a massive market reaction if he fires Federal Reserve Chair Jerome Powell.
I mean, what happens if theres a tweet that says the Fed chair is gone? CBSs Margaret Brennan asked Himes on Face the Nation.
Well, interestingly, inside the White House and I dont know who it is my guess is, its maybe the Treasury secretary is saying and this is a very difficult thing to say to a person like Donald Trump that, if you fire the Fed chair, either illegally, which theyre happy to do, or because you trump up some baloney-like charge associated with a renovation of the headquarters, there is going to be a massive market reaction, because you cannot lie to the capital markets, Himes responded.
Trump has recently grasped on to the Federal Reserves multibillion-dollar makeover as a possible way to finally oust Powell.
Read more: https://thehill.com/business/5411006-himes-warning-trump-fires-powell/