P
resident Donald Trump reportedly showed a draft of a letter firing Federal Reserve Chair Jerome Powell to some House Republicans, but later denied any plans to do so. The president has been critical of Powell's handling of interest rates and has called for his resignation. However, Trump cannot legally fire Powell without cause.

    A congressional investigation is underway to determine if there is cause for Powell's removal, focusing on comments he made about the Fed's headquarters renovation plans. Trump has repeatedly criticized the Fed's freeze on short-term interest rates, while Powell has defended the central bank's decisions due to tariff uncertainty and strong jobs data.

    Trump showed the draft letter during a meeting with Republican lawmakers, but later said he won't "rule out anything" if there is evidence of fraud in the $2.5 billion renovation project. Powell requested an inspector general review of the plans before a congressional investigation was prompted by Federal Housing Finance Agency Director Bill Pulte.

    In other news, Rep. Marjorie Taylor Greene has proposed legislation to eliminate federal capital gains taxes on home sales, which Trump supports. The bill aims to provide tax relief and stimulate market activity by removing a disincentive to selling homes.