Trump threatens to fire Powell if he doesn't step aside as Fed chair [View all]

Source: USA Today

Updated April 15, 2026, 9:29 a.m. ET


President Donald Trump said his administration doesn't plan to drop the Department of Justice's probe into Federal Reserve Chair Jerome Powell, and again threatened to fire him if he stays in the role past mid-May. Trump has nominated former Federal Reserve Governor Kevin Warsh to the position, but Powell has said he'll stay in the job on a temporary basis if Warsh isn't confirmed before May 15, when Powell's term as chair ends.

“Then I’ll have to fire him,” Trump told Fox Business on April 15 in response to a question about Powell potentially staying on. "If he's not leaving on time — I've held back on firing him. I've wanted to fire him. But I hate to be controversial. I want to be uncontroversial."

Trump nominated Warsh to the position, but Warsh has yet to be confirmed by the Senate. After a paperwork delay, Warsh has since filed required financial disclosures, setting up a Senate confirmation hearing next week. However, his confirmation isn't guaranteed. Sen. Thom Tillis, R-North Carolina, vowed to stall any nominations to the Fed until the Justice Department ends its probe into Powell related to the budget for a a major renovation project at the central bank's headquarters.

Former Fed Chairs Janet Yellen, Ben Bernanke and Alan Greenspan called the criminal inquiry "an unprecedented attempt to use prosecutorial attacks to undermine" the central bank's independence in January. Powell himself condemned it in a rare video statement.

Read more: https://www.usatoday.com/story/money/2026/04/15/trump-threatens-fire-jerome-powell-fed-chair/89621843007/