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Epstein emails reveal behind-the-scenes talk of firing Fed chair Powell
By Amanda Macias
Published February 03, 2026
Buried among the roughly 3 million pages of Justice Department documents is a brief exchange revealing disgraced financier Jeffrey Epstein discussing the removal of Federal Reserve Chair Jerome Powell with then–Trump advisor Steve Bannon.
The 2018 emails, bearing the subject line "Re: Trump has discussed firing Fed chief after latest interest rate hike: report," show Epstein and Bannon weighing who should exit the Trump administration next.
Epstein opened the exchange by endorsing the idea of removing Powell, who Trump had appointed to the role a year prior.
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Jerome Powell, chairman of the U.S. Federal Reserve, was tapped by Trump to serve in the role in 2017.
"Should have been done months ago too old!!!!" Epstein wrote.
The exchange took place two days after then–Defense Secretary James Mattis stunned Washington with his resignation, and Epstein dismissed the foreign policy upheaval as secondary to changes at the Fed.
"Getting rid of Powell much more important than Syria/Mattis. I guess Pompeo, only one left," Epstein wrote in a follow-up email, adding that "Jared and Ivanka need to go," referencing Trump's daughter and son-in-law who held positions in the administration.
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President Donald Trump said the Justice Department will continue its criminal problem of Powell. (Official White House Photo by Daniel Torok)
Bannon responded by asking whether Powell or then–Treasury Secretary Steve Mnuchin could be removed.
"Can u get rid of Powell or really get rid of Mnuchin," Bannon wrote.
Epstein replied that Mnuchin should remain in place.
"No, Mnuchin is ok," Epstein wrote.
The revelation of the email correspondence underscores a moment years in the making, as President Donald Trump moves forward with a criminal investigation into Powell and names Kevin Warsh as the next chair of the central bank.
Read the email exchanges below:
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