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During an Oval Office meeting with congressional Republicans a few days ago, President Trump showed off the draft of a letter to fire Jerome H. Powell, the chair of the Federal Reserve.
It’s the latest chapter in a dysfunctional relationship that has major implications for the global economy.
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On today’s episode

Colby Smith, who covers the Federal Reserve and the U.S. economy for The Times.

Background reading
President Trump waved a copy of a draft letter firing Jerome H. Powell at a meeting in the Oval Office with House Republicans.
Can Trump fire Powell? It’s likely that he lacks a case, legal experts say.
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“The Daily” is made by Rachel Quester, Lynsea Garrison, Clare Toeniskoetter, Paige Cowett, Michael Simon Johnson, Brad Fisher, Chris Wood, Jessica Cheung, Stella Tan, Alexandra Leigh Young, Lisa Chow, Eric Krupke, Marc Georges, M.J. Davis Lin, Dan Powell, Sydney Harper, Michael Benoist, Liz O. Baylen, Asthaa Chaturvedi, Rachelle Bonja, Diana Nguyen, Marion Lozano, Rob Szypko, Elisheba Ittoop, Mooj Zadie, Patricia Willens, Rowan Niemisto, Jody Becker, Rikki Novetsky, Nina Feldman, Carlos Prieto, Ben Calhoun, Susan Lee, Lexie Diao, Mary Wilson, Alex Stern, Sophia Lanman, Shannon M. Lin, Diane Wong, Devon Taylor, Alyssa Moxley, Olivia Natt, Daniel Ramirez, Brendan Klinkenberg, Chris Haxel, Maria Byrne, Anna Foley and Caitlin O’Keefe.
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