Trump threatens to fire Powell if the Fed chair doesn't leave office on his own

Key Points:

• President Donald Trump threatened to fire Federal Reserve Chair Jerome Powell if he remains as a Fed governor after his successor is confirmed, citing a desire to avoid controversy but expressing frustration with Powell's tenure.
• Powell’s term as chair expires on May 15, with Trump nominating former Fed Governor Kevin Warsh as his replacement; however, Powell has two years left as a Fed governor and has not clarified his plans post-chairmanship.
• The situation is complicated by an ongoing investigation into the Fed headquarters renovation, with subpoenas issued and legal challenges ongoing, leading Senator Thom Tillis to block Warsh’s nomination until the probe concludes.
• Trump criticized the renovation project as likely corrupt or incompetent and emphasized that the investigation must continue, while also reiterating his desire for lower interest rates and confidence in Warsh to achieve that goal.
• Previously, Trump attempted unsuccessfully to remove Governor Lisa Cook amid mortgage impropriety accusations, a case currently pending before the U.S. Supreme Court.