President Donald Trump has renewed his threat to remove Federal Reserve Chair Jerome Powell if he does not step down after his term ends, according to remarks made in a Fox Business interview.
Powell’s term as chair expires May 15, and Trump has nominated former Fed Governor Kevin Warsh as his successor. However, Powell still has two years remaining as a Fed governor. Trump said he would act if Powell refuses to leave the central bank entirely.
President Trump doubled down on the Justice Department’s criminal investigation of Federal Reserve Chair Jerome Powell, saying in a television interview that he won’t drop the probe and threatening to fire Powell if he doesn’t resign https://t.co/P7jbsDFPko
— The Wall Street Journal (@WSJ) April 15, 2026
The situation is further complicated by an ongoing probe into the Federal Reserve’s headquarters renovation. According to the report, legal efforts to subpoena Powell have faced setbacks, while Senate approval of Warsh’s nomination is being delayed pending the investigation.
Trump said the inquiry must continue, citing concerns over potential mismanagement. He also reiterated his push for lower interest rates, expressing confidence that new leadership at the Fed would align with his economic priorities.
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TIPP Staff
