The Department of Justice files include a brief 2018 email exchange in which Jeffrey Epstein and Steve Bannon discussed removing Federal Reserve Chair Jerome Powell. Epstein urged Powell's ouster, calling him "too old," and downplayed the significance of James Mattis's resignation. Bannon asked whether Powell or Treasury Secretary Steve Mnuchin could be forced out; Epstein replied that Mnuchin should stay. The messages surfaced as reports circulated of a criminal probe into Powell and the naming of Kevin Warsh as a potential successor.
Epstein-Bannon Emails Show Private Talks About Ousting Fed Chair Jerome Powell
Jerome Powell, chairman of the U.S. Federal Reserve, was tapped by Trump to serve in the role in 2017.(Getty Images)
Hidden within roughly three million pages of Department of Justice records is a short 2018 email exchange in which disgraced financier Jeffrey Epstein and then–Trump adviser Steve Bannon discussed removing Federal Reserve Chair Jerome Powell.
Details From The Emails
The messages, sent under the subject line "Re: Trump has discussed firing Fed chief after latest interest rate hike: report," capture Epstein and Bannon debating which officials should be pushed out of the Trump administration next. Epstein opened the thread by backing the idea of ousting Powell, whom President Donald Trump had appointed about a year earlier. "Should have been done months ago too old!!!!" Epstein wrote.
President Donald Trump said the Justice Department will continue its criminal problem of Powell.
The exchange occurred two days after then–Defense Secretary James Mattis unexpectedly announced his resignation. Epstein downplayed that development, writing that "getting rid of Powell much more important than Syria/Mattis. I guess Pompeo, only one left," and adding that "Jared and Ivanka need to go," referring to senior advisers Jared Kushner and Ivanka Trump.
Bannon replied 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." Epstein responded that Mnuchin should remain in place: "No, Mnuchin is ok."
Context And Aftermath
These emails were disclosed as part of a large trove of DOJ documents and underscore private discussions among influential figures about personnel at the Federal Reserve. The correspondence surfaced as President Trump moved forward with reports of a criminal probe into Powell and named Kevin Warsh as a potential successor to lead the central bank.
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