President Donald Trump threatens that he will dismiss Jerome Powell, the chairman of the Fed, if he does not step down at the expiration of his term in May.
Lara Maior
International
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American President Donald Trump stated that he will fire Jerome Powell, the chairman of the Federal Reserve, if he does not step down at the end of his term on May 15. The dispute between the two began after Powell refused to lower the interest rate, despite Trump's repeated requests. Powell intends to remain in office until his successor, Kevin Warsh, is confirmed by the Senate. Trump mentioned that he wanted to fire Powell but avoided becoming a controversial figure. Republican Senator Thom Tillis threatened to block Warsh's confirmation, and Trump stated that he would not drop the criminal investigation against Powell related to the renovation of the Fed building. Treasury Secretary Scott Bessent expressed optimism that Warsh will be confirmed before Powell's term expires. Trump criticized Powell's management of the Fed renovation and suggested that he has overspent. If Trump were to fire a Fed chairman, it would be a first in history.
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