Trump discussed with congressmen the dismissal of the head of the Fed

US President Donald Trump has consulted with Republicans in Congress on the dismissal of Federal Reserve Chairman Jerome Powell. This was reported on July 16 by the CBS News channel.

"Trump on Tuesday asked a group of Republicans in the House of Representatives whether he should fire Federal Reserve Chairman Jerome Powell, and according to several sources with direct knowledge of the situation, those present expressed approval," the material says.

According to federal law, it is possible to dismiss the head of the Federal Reserve only for a good reason, but the White House has not yet officially developed a legal basis for this. As CBS notes, for decades, the heads of the Federal Reserve System have been able to independently make decisions about the country's monetary policy.

According to the channel, Trump has repeatedly raised the issue of Powell's replacement, as he kept interest rates at the same level instead of lowering them. This could boost economic growth and make it easier for Americans to obtain loans.

On the same day, after holding a meeting with congressmen, Trump told reporters that the $2.5 billion renovation plan of the Federal Reserve System could be sufficient reason to dismiss its chairman, Powell.

"I think he's terrible. <...> I would never have thought that he would spend $2.5 billion to build a small extension to the Federal Reserve," CNN quoted Trump as saying.

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Earlier, on July 2, Trump called on Powell to resign immediately. Then the head of the White House attached a Bloomberg article to his publication, which stated that the head of the Federal Housing Finance Agency, Bill Pulte, called for an investigation into Powell.