MNI BRIEF: Trump Will 'Likely' Fire Powell Soon - WH Official

President Donald Trump indicated to Republican lawmakers that he will "likely" fire Federal Reserve Chair Jerome Powell soon, after receiving approval from them to make the move, a senior White House official told MNI. 

"The President asked lawmakers how they felt about firing the Fed Chair. They expressed approval for firing him. The President indicated he likely will soon," said the official. 

In prior statements on the matter, Powell has said his firing is “not permitted under the law.” No president ever has attempted to so in the past, though others have criticized the central bank leader. (See: MNI INTERVIEW: Fed Independence Facing Imminent Risk - Menand)

Trump nominated Powell for the chair in November 2018 to succeed Janet Yellen, who went on to become Treasury secretary under former President Joe Biden after holding the Fed position for four years.