A firing of Jerome Powell by President Trump would likely open up a legal war never before seen in the US, without any guarantee of a courtroom victory for the White House.

If President Donald Trump were to fire Federal Reserve Chair Jerome Powell, it could have unintended and severe consequences that reverberate throughout the US economy and global markets.

The Trump administration is toying with removing Jerome H. Powell as chair of the Federal Reserve, accusing him of mismanaging a multibillion-dollar update to its Washington headquarters.

The most recent criticisms against Fed chair Jerome Powell come after President Donald Trump continues to demand lower interest rates.

President Donald Trump’s attacks on Federal Reserve Chair Jerome Powell are so commonplace at this point that they barely register in financial markets these days. The rapidly intensifying multi-pronged efforts by Trump’s advisers to amplify and expand on Trump’s attacks are a good reason to rethink that indifference.

The president waved a copy of a draft letter firing Jerome H. Powell at a meeting in the Oval Office with House Republicans. It remains to be seen whether he follows through with his threat.

Privately, White House officials acknowledge uncertainty about Trump firing Powell solely based on accusations he mismanaged a multi-year renovation project.