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Trump denies another Journal report, this time on Powell, Bessent
UNITED STATES, JUL 21 – Trump disputes Treasury Secretary Scott Bessent's claim he advised against firing Fed Chair Powell and has filed lawsuits seeking at least $10 billion in damages over related reports.
- On Truth Social Sunday, July 20, President Donald Trump denied the Wall Street Journal report, calling it `typically untruthful story` and stating `nobody had to explain` why firing Powell would be harmful.
- According to unnamed sources quoted by the WSJ, Bessent warned of legal, political, and market fallout, noting Powell could sue if removed early, dragging the case until May 2026.
- On Friday, July 18, Trump filed a defamation lawsuit, seeking at least $20 billion in damages against the Wall Street Journal and its parent companies.
- While legal experts say the president lacks authority to remove a Fed chair, Trump told reporters he isn’t planning to fire Powell.
- The Trump administration plans a Federal Reserve review this week, as James Blair said, and the probe may provide a cause for removing Powell.
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The Belgrade NewsTrump: ‘People don’t explain to me, I explain to them!’
U.S. President Donald Trump lashed out at a Wall Street Journal story that said Treasury Secretary Scott Bessent talked him out of firing Federal Reserve Chairman Jerome Powell.
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