Trump: I will fire Powell if he doesn't leave Fed chairmanship on time
US President Donald Trump reiterated his pressure on Federal Reserve Chair Jerome Powell, stating he would fire Powell if he does not step down upon completion of his current term. Powell's term is set to expire in mid-May. Trump has repeatedly criticized Powell for not lowering interest rates more aggressively.
📋 Article Processing Timeline
- 📰 Published: April 16, 2026 at 00:30
- 🔍 Collected: April 16, 2026 at 01:02 (31 min after Published)
- 🤖 AI Analyzed: April 16, 2026 at 04:17 (3h 15m after Collected)
Central News Agency
(CNA Washington, April 15, [2026] Compiled Foreign News) US President Donald Trump today once again put pressure on Federal Reserve (Fed) Chair Jerome Powell, stating that if Powell does not step down after his current term ends, he will dismiss him.
According to AFP, Trump said in an interview with Fox Business Network that if Powell "does not leave on time, I will have to fire him. ... I wanted to fire him before."
Powell's term is set to expire in mid-May. Trump has repeatedly criticized Powell for not lowering interest rates more aggressively. Furthermore, the Trump administration has launched an investigation into Powell for allegedly overspending on Fed renovation work.
Trump has nominated former Fed Governor Kevin Warsh to replace Powell, but Warsh must pass Senate confirmation to take office. The confirmation hearing, to be held by the Senate Banking Committee, is scheduled for the 21st.
However, Warsh's path to office faces challenges, as some senators criticize the Department of Justice's investigation into Powell as political pressure from the government on the Fed. Senator Thom Tillis, a Republican and member of the Senate Banking Committee, has vowed not to approve Warsh's nomination as long as this investigation remains pending.
When asked today whether he would abandon the Justice Department's investigation into Powell, Trump replied, "I am not playing games, I have to find out (the truth)."
If Warsh's nomination process stalls, Powell can legally continue to serve as Fed Chair.
Powell first took office as Fed Chair during Trump's first presidential term in 2018 and was reappointed in 2022 during President Joe Biden's term. (Editor: Chang Cheng-chien) 1150415
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(CNA Washington, April 15, [2026] Compiled Foreign News) US President Donald Trump today once again put pressure on Federal Reserve (Fed) Chair Jerome Powell, stating that if Powell does not step down after his current term ends, he will dismiss him.
According to AFP, Trump said in an interview with Fox Business Network that if Powell "does not leave on time, I will have to fire him. ... I wanted to fire him before."
Powell's term is set to expire in mid-May. Trump has repeatedly criticized Powell for not lowering interest rates more aggressively. Furthermore, the Trump administration has launched an investigation into Powell for allegedly overspending on Fed renovation work.
Trump has nominated former Fed Governor Kevin Warsh to replace Powell, but Warsh must pass Senate confirmation to take office. The confirmation hearing, to be held by the Senate Banking Committee, is scheduled for the 21st.
However, Warsh's path to office faces challenges, as some senators criticize the Department of Justice's investigation into Powell as political pressure from the government on the Fed. Senator Thom Tillis, a Republican and member of the Senate Banking Committee, has vowed not to approve Warsh's nomination as long as this investigation remains pending.
When asked today whether he would abandon the Justice Department's investigation into Powell, Trump replied, "I am not playing games, I have to find out (the truth)."
If Warsh's nomination process stalls, Powell can legally continue to serve as Fed Chair.
Powell first took office as Fed Chair during Trump's first presidential term in 2018 and was reappointed in 2022 during President Joe Biden's term. (Editor: Chang Cheng-chien) 1150415
Choose to stand with the facts. Every sponsorship from you is a force to protect the freedom of the press.
Download the CNA "First News" APP for instant access to the latest news.
Text, images, and videos on this website may not be reproduced, publicly broadcast, or transmitted or used without authorization.