US EditionTrump threatens to fire Fed Chair Powell if he does not step down
Trump said the probe into the Fed headquarters renovation must continue, while Kevin Warsh’s confirmation remains delayed and Thom Tillis vows to block nominees.
- On Wednesday, President Donald Trump told Fox Business he would fire Federal Reserve Chair Jerome Powell if he does not step aside when his chair term expires May 15.
- The Department of Justice is investigating the Federal Reserve headquarters renovation, which Trump claims costs more than $3 billion, citing the project as evidence of incompetence rather than criminal conduct alone.
- North Carolina Republican Sen. Thom Tillis has vowed to block the confirmation of nominee Kevin Warsh until the investigation concludes, delaying the leadership transition and complicating Trump's efforts to install his preferred successor.
- Powell previously stated he has no intention of leaving the board until the investigation concludes with "transparency and finality," citing his remaining two years as a governor beyond the May 15 chair deadline.
- While Trump indicated he would fire Powell if he remains, Fed regulations allow the chair to potentially serve as chair pro tempore in the interim, though legal experts note removing a governor is legally dubious.
146 Articles
146 Articles
'Why is this so hard to understand?' WSJ editors fed up as Trump reopens 'vendetta'
The conservative Wall Street Journal editorial board expressed horror that President Donald Trump moved to reopen his "vendetta" against Federal Reserve Chair Jerome Powell, threatening once again to fire him early, despite not having any clear statutory authority to do so."Mr. Trump is frustrated that his Administration’s criminal investigation into Mr. Powell over a cost overrun on a Fed building renovation is backfiring in a big way. Perhaps …
Trump Again Threatens to Fire Fed Chair
President Trump is again talking about firing Federal Reserve Chair Jerome Powell, though Powell's term as chief of the central bank expires a month from today. In a Fox Business interview Wednesday, Trump said that if Powell remains on the Fed's board after a successor is confirmed, "then I'll have...
Jerome Powell, president of the Central Bank, says to remain in charge while there is a judicial procedure against him. "Well, then I'll have to let him go. If he doesn't leave in time," Donald Trump says.
Donald Trump said he was ready to "severe" Jerome Powell if he did not leave the central bank of the United States (Fed) soon, raising pressure a few days before Kevin Warsh's hearing, supposed to succeed him. ...
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