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The drafting of the "dismissal letter" denied that Trump's next step might target the Federal Reserve Board of Governors

Internet reports that the conflict between Trump and Powell has set off another wave of climax. There are reports that Trump has drafted a letter to fire Powell and has solicited opinions from top Republican leaders. However, after the relevant news leaked, Trump suddenly changed his mind and said that he did not intend to fire Powell. According to Fox reporters, citing people familiar with the matter, this capricious attitude reflects differences within the Trump administration over whether the Federal Reserve chairman can be legally dismissed. Maybe now is not the time yet. Trump hinted at possible fraud issues related to the renovation of the Federal Reserve Building. But this seems a bit far-fetched. One of his more strident words was: "The Federal Reserve Committee simply failed to perform its duties." These remarks may mean that his strategy is shifting from directly exerting pressure on Powell to the entire Federal Reserve Board of Governors. Currently, Trump already has two allies on the council: Bowman and Waller. The next step may be to win the support of more council members. There is more than one way to cut interest rates, and it does not necessarily require Powell's vote, as long as it has the support of a majority of voting members.

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