Trump Warns He’ll Fire Powell as $2.5B Fed Probe Stalls Warsh Nomination
President Donald Trump is escalating his clash with Federal Reserve Chair Jerome Powell, openly threatening to fire him if he refuses to step down in May, even as legal experts question whether that’s possible.
The standoff centers on Powell’s plan to remain on the Fed board while a Justice Department investigation continues, despite prosecutors admitting they’ve found no evidence of wrongdoing tied to a $2.5 billion renovation project, according to the Associated Press.
Subscribe free for daily political analysis they won’t broadcast. Join 110K+ readers →
Trump, who has repeatedly criticized Powell over interest rates, is pushing to replace him with Kevin Warsh. But Warsh’s confirmation is now stalled as Senate Republicans, including Sen. Thom Tillis, demand the probe end first.
According to the Washington Post and Reuters, the dispute is raising alarms about political pressure on the Fed, which is traditionally independent.
Powell, first appointed by Trump in 2018, has overseen major inflation-fighting rate hikes, the same policy decisions now driving the confrontation.
Download a FREE Pocket Constitution NOW →
