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A political firestorm hit Wall Street Wednesday as speculation intensified that Trump may fire Federal Reserve Chair Jerome Powell before his term ends in 2026, raising alarms over central bank independence. The New York Times reported that Trump showed GOP lawmakers a draft termination letter and polled them on whether he should remove Powell.聽 Though Trump later claimed he had no imminent plans, he admitted 鈥渁lmost everyone鈥� urged him to go through with it.聽 Legal scholars warn that such a move without cause could spark a constitutional crisis. The controversy deepened after the latest PPI report showed producer inflation easing more than expected. Trump allies also began targeting the Fed鈥檚 $2.5 billion renovation, suggesting it could justify Powell鈥檚 firing 鈥渇or cause.鈥�

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