Instant Reaction: Trump Reportedly Considers Firing Fed Chair Powell

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  This is a breaking news update from Bloomberg.

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  Instant reaction and analysis from our 3,000 journalists and analysts around the world.

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  President Donald Trump is likely to fire Federal Reserve Chair Jerome Powell soon,

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  a White House official said,

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  and discuss the possibility in a meeting with congressional Republicans on Tuesday night.

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  While the lawmakers voiced support for the move,

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  which would likely rule the financial markets and lead to a consequential legal showdown,

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  Trump has not made a final decision and could change his mind according to the official who requested anonymity to discuss a private conversation.

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  To get more on this, we go to Chris Condon, Bloomberg Federal Reserve team leader.

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  Chris, has this happened before?

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