Drafting of "dismissal letter" denied, Trump's next step may target the Federal Reserve Board.

The conflict between Trump and Powell has once again reached a climax. Reports suggest that Trump has drafted a letter to fire Powell and has sought advice from top Republican officials. However, after the leak of relevant information, Trump suddenly changed his mind and said he has no intention of firing Powell. According to sources cited by a Fox News reporter, this fickle attitude reflects internal disagreements in the Trump administration about whether it is legally possible to remove the Fed Chairman. Perhaps now is not the time. Trump hinted at possible fraud related to renovations at the Fed building, but this seems a bit far-fetched. His sharper words were: "The Federal Reserve Board is not fulfilling its duties at all." This statement may indicate a shift in his strategy, from directly pressuring Powell to targeting the entire Federal Reserve Board. Currently, Trump has two allies on the board: Bowman and Waller. He may now be seeking support from more board members. There are multiple ways to lower interest rates, and it does not necessarily require Powell's vote, as long as it has the support of the majority of voting members.