Hidden within millions of pages of Justice Department files, a startling conversation has emerged. It reveals disgraced financier Jeffrey Epstein and then-Trump advisor Steve Bannon discussing the potential removal of Jerome Powell, the Federal Reserve Chair.
The 2018 email exchange, triggered by reports of Trump considering firing Powell after an interest rate hike, quickly escalated into a broader discussion of personnel changes within the administration. Epstein initiated the dialogue, bluntly endorsing Powell’s dismissal.
“Should have been done months ago too old!!!!” Epstein wrote, displaying a dismissive attitude towards the Fed Chair Trump himself had appointed just a year earlier. His message revealed a clear preference for upheaval at the highest levels of economic policy.
This exchange occurred in the immediate aftermath of Defense Secretary James Mattis’s unexpected resignation, a seismic event in Washington. Yet, Epstein minimized the significance of this foreign policy shift, deeming changes at the Federal Reserve far more critical.
“Getting rid of Powell much more important than Syria/Mattis,” Epstein asserted, adding a further layer of intrigue by suggesting the removal of Jared Kushner and Ivanka Trump, the President’s daughter and son-in-law, both holding influential White House positions.
Bannon responded by directly questioning the feasibility of removing either Powell or Treasury Secretary Steve Mnuchin. He sought clarity on which dismissal Epstein believed was achievable.
Epstein swiftly clarified his position, stating Mnuchin should remain untouched. “No, Mnuchin is ok,” he replied, focusing his desire for change solely on the leadership of the Federal Reserve.
The surfacing of this correspondence provides a chilling glimpse into a period of intense internal debate and power maneuvering within the Trump administration. It coincides with current developments, including a criminal investigation into Powell initiated by former President Trump and the potential appointment of Kevin Warsh as the next chair of the central bank.
