Tags: donald trump | jerome powell | fed chair

Trump Threatens to Fire Fed Chair Powell Amid Escalating Standoff

Wednesday, 15 April 2026 11:56 AM EDT

President Donald Trump on Wednesday threatened to fire Federal Reserve Chair Jerome Powell from his separate seat as a member of the ‌U.S. central bank's Board of Governors if Powell does not vacate ​that post as well when his term as Fed chief ends on May 15, intensifying a complicated standoff that has upended ⁠the Fed's usually smooth transition of power.

Trump administration threats against Powell, including ​an ongoing criminal investigation, could delay Senate confirmation of Kevin Warsh as Trump's nominee ⁠to succeed Powell as Fed chief, but the president in a Fox Business interview doubled down on the probe as a way to prove Powell's "incompetence" and said if he doesn't leave altogether, "then ‌I'll have to fire him."

"You want Jay Powell out of the ​way?" the president ‌had been asked by Fox Business host Maria Bartiromo.

"If he's not leaving on time - I've held back ‌firing him, I've wanted to fire him, but I hate to be controversial, you know. I want to be uncontroversial, but he will be fired," ⁠Trump responded.

He gave no indication that ‌U.S. Attorney for the District ⁠of Columbia Jeanine Pirro would back down from investigating a Fed building project the administration has criticized ⁠for ⁠cost overruns.

Trump's language underscored the stakes, and the potential complications the administration faces if Powell doesn't leave the Fed ‌board.

With greater control of seats on the seven-member board, Warsh would have a freer hand in setting monetary policy and making other changes at the central bank ‌that the ​administration might seek.

Trump has ‌appointed only three of the current members, and one of them, Fed Governor Stephen Miran, is in a seat whose term has already ​expired and, as it stands, would have to be vacated for Warsh to join. 

© 2026 Thomson/Reuters. All rights reserved.


Politics
President Donald Trump on Wednesday threatened to fire Federal Reserve Chair Jerome Powell from his separate seat as a member of the ‌U.S. central bank's Board of Governors if Powell does not vacate ​that post as well when his term as Fed chief ends on May 15...
donald trump, jerome powell, fed chair
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2026-56-15
Wednesday, 15 April 2026 11:56 AM
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