The Daily

During an Oval Office meeting with congressional Republicans a few days ago, President Trump showed off the draft of a letter that would 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.Guest: 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.For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday. Photo: Tom Brenner/The New York Times Unlock full access to New York Times podcasts and explore everything from politics to pop culture. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify.