Although the Federal Reserve (the Federal Reserve, the Central Bank) did not clarify whether Powell's removal would be lawful, sources close to the president confirmed CNN what Trump has already begun to discover whether the measure will be legal.
Powell's dismissal will have effects not only on the US economy, but also on the stock markets of the rest of the world. But for now what was already felt was the rise in Wall Street prices, where the worst weekly decline since 2008 was observed.
Unlike many of his successors, who avoided public speaking about the Fed's decisions to respect their independence, Trump said this week that if the central bank increases its rates, it will be a "mistake". But the committee ignored the president's words.
Wall Street's weekly fall was a product not only of the Fed but also of the threat of closing the government in Washington – held until Christmas –, the trade war with China, and the prospect of economic slowdown.
Powell's removal would be unprecedented in the country and would mean a direct attack on the independence of powerful federal reserves, which play an important role in the world's leading economy.