The Fed Under Trump 2.0
Donald Trump says he will not fire Jay Powell as chair of the central bank if he is re-elected president, after threatening to do so. But whether the president even has the authority is open to question.
By Andrew Ross Sorkin, Ravi Mattu, Bernhard Warner, Sarah Kessler, Michael J. de la Merced, Lauren Hirsch, Ephrat Livni and
![As president, Donald Trump tapped Jay Powell to run the Fed, a decision that he has sometimes questioned and threatened to reverse.](https://static01.nyt.com/images/2024/07/17/multimedia/17db-trump-powell-qgjm/17db-trump-powell-qgjm-thumbLarge.jpg?auto=webp)
![As president, Donald Trump tapped Jay Powell to run the Fed, a decision that he has sometimes questioned and threatened to reverse.](https://static01.nyt.com/images/2024/07/17/multimedia/17db-trump-powell-qgjm/17db-trump-powell-qgjm-threeByTwoMediumAt2X.jpg?auto=webp)