CNBC: Trump may seek to remove Federal Reserve Chair Powell and Governors Cook and Barr, but legal challenges could make it difficult to achieve.
Former U.S. President Donald Trump may seek to remove Federal Reserve Chair Jerome Powell and Governors Lisa Cook and Michael Barr, CNBC reported. However, recent court rulings indicate that any such attempt would face significant legal hurdles, potentially taking months to resolve and possibly prompting the targeted individuals to delay their departure plans. Trump's move follows the release of a watchdog report that found the cost of renovating the Federal Reserve's headquarters had surged by approximately $1 billion, but did not find evidence of administrative misconduct or grounds for criminal charges. Trump blamed Powell for the issue, calling him a "disaster." Previously, the Supreme Court in June blocked Trump's attempt to remove Cook, requiring notice of charges and an opportunity to respond. Additionally, an investigation into Barr's handling of the Silicon Valley Bank collapse by the Federal Reserve is ongoing.
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