Under the law, Trump can fire Powell for what’s known as “cause.” What Trump’s inner circle is grappling with is what exactly constitutes “cause” in a way that can withstand

Major construction work continues at the U.S. Federal Reserve building as U.S. President Donald Trump voices complaints about Fed Chair Jerome Powell, in Washington, D.C., U.S., July 14, 2025. REUTERS/Jonathan Ernst/File Photo (Reuters) -The spiraling cost of the Federal Reserve's years-long renovation of two historic buildings in Washington,