A Republican congresswoman claimed late Tuesday night that Federal Reserve Chair Jerome Powell’s firing is “imminent,” amplifying President Donald Trump’s ongoing public campaign to remove Powell over monetary policy and a costly renovation project.

“Jerome Powell is going to be fired. Firing is imminent,” Rep. Anna Paulina Luna (R-FL) posted to social media on July 15.

The White House has not confirmed any such decision, and Powell remains in his post as of the time of this publication. However, the remark comes amid a flurry of public statements and behind-the-scenes maneuvering by Trump and his top advisers, which suggest serious consideration of removing the Fed chair before his term ends in May 2026.

The Breakdown:

  • Trump publicly hinted Powell’s firing is possible, telling reporters Tuesday the Fed chair’s handling of a $2.5 billion headquarters renovation project “sort of is” a fireable offense.

  • Rep. Anna Paulina Luna’s tweet is the first direct statement from a lawmaker asserting Powell’s firing is imminent, escalating the political pressure.

  • Top Trump economic officials, including Kevin Hassett and Russell Vought, have said the administration is examining whether Powell’s conduct qualifies as legal “cause” for removal.

  • Legal experts are divided on whether the President has the authority to remove Powell before his term expires, especially given past Supreme Court signals that have protected the Fed’s independence.

  • The Federal Reserve renovation is reportedly self-funded, and Powell has referred the matter to the agency’s inspector general amid mounting scrutiny.

Trump has repeatedly expressed frustration with Powell, blaming him for not lowering interest rates fast enough. More recently, his administration has focused its criticism on the Federal Reserve’s $2.5 billion renovation of its D.C. headquarters, a project Trump reportedly called “a fireable offense.”

“I think it sort of is,” Trump told reporters on July 15 when asked directly if the cost overruns at the Fed were grounds for firing Powell.

Trump’s Office of Management and Budget (OMB) sent Powell a letter demanding answers about the project’s scope and cost, Axios reported. Powell, in turn, has asked the Fed’s inspector general to review the matter. The project is funded through the Fed’s earnings on interest rates — not taxpayer dollars — and the White House is exploring whether the renovations could amount to “cause” for dismissal, CNBC reported.

Kevin Hassett, Trump’s top economic adviser, told ABC News that “certainly, if there’s cause, [Trump] does” have the power to fire Powell, but acknowledged that legal questions remain. “That’s being looked into,” he added.

Legal experts and analysts are divided on whether the President has the authority to fire the Fed chair before the end of his term. While the Federal Reserve Act allows governors to be removed “for cause,” it does not specifically address the chair’s four-year designation. Former Fed governor and Harvard law professor Daniel Tarullo noted the ambiguity in statutory language and warned that markets would likely react sharply to any attempted removal.

“Any action by any administration to try to remove the chair or other members of the board is ultimately self-defeating,” Tarullo told the Harvard Gazette. “Markets would read into the very act of removal an intent to have a significantly more accommodative monetary policy.”

Adding to the complexity, the U.S. Supreme Court signaled in May that the Federal Reserve might be exempt from broader rulings expanding presidential removal power over independent agency officials. In a case involving labor boards, the Court wrote, “The Federal Reserve is a uniquely structured, quasi-private entity that follows in the distinct historical tradition of the First and Second Banks of the United States.”

Still, top Trump allies are openly floating names to replace Powell. Treasury Secretary Scott Bessent told Bloomberg that a formal process to identify a successor is underway. Other reported contenders include Hassett and former Fed governor Kevin Warsh, who recently called the renovation project “outrageous” and said, “The Fed has lost its way.”

For now, Powell remains in office. His responses to the OMB’s questions are reportedly due by the end of the week. Whether Trump acts before then remains unclear, but Rep. Luna’s posts on social media mark the boldest prediction yet in a high-stakes standoff.