Trump Threatens to Fire Powell Over Fed Renovation Probe Amid Legal and Political Standoff President Donald Trump has vowed to remove Federal Reserve Chair Jerome Powell from his position if he does not resign by May 15, the date when Powell’s term at the helm of the central bank is set to expire. During an interview with Fox Business’ Maria Bartiromo, Trump reiterated his stance, stating, “Then I’ll have to fire him,” in response to questions about Powell’s continued tenure. The threat comes amid a high-profile criminal investigation into Powell by the Department of Justice (DOJ), which accuses him of lying to Congress about the $2.5 billion renovation of the Fed’s Washington, D.C., headquarters. The DOJ’s probe, led by prosecutors including Jeanine Pirro, has become a focal point of Trump’s repeated criticism of Powell’s leadership. The investigation centers on Powell’s testimony last year, where he defended the renovation project’s cost overruns, which have ballooned to nearly 80% above the original budget. Trump has publicly questioned the project’s management, calling it “incompetent” and demanding accountability for the alleged waste. “I want to know who the contractor is, because that contractor is making billions of dollars, perhaps,” Trump said, suggesting potential corruption. Despite Trump’s nomination of former Fed governor Kevin Warsh to replace Powell in January, the confirmation process has stalled. North Carolina Senator Thom Tillis, a key member of the Senate Banking Committee, has refused to vote for Warsh’s nomination until the DOJ investigation concludes. Tillis’s opposition has delayed the confirmation, leaving Powell in a precarious position. Under Fed regulations, if Warsh is not confirmed by May 15, Powell would remain as chair “pro tempore” until a successor is appointed.#department_of_justice #trump #jerome_powell #fed #maria_bartiromo
