New leadership at Fed would be helpful, US House Speaker says

July 16 (Reuters) - U.S. House Speaker Mike Johnson on Wednesday said he believes it would be beneficial to have new leadership at the U.S. Federal Reserve, although he's not sure the president has the authority to fire Chair Jerome Powell, according to media reports.

"I do I believe new leadership would be helpful at the Fed,” a Wall Street Journal reporter on X quoted Johnson as saying. Punchbowl News, in a separate X post, reported Johnson said he's "really not sure" if the president can fire Powell.