Trump threatens to fire Fed Chair Powell over May deadline

Speaking in an interview with Fox Business on Wednesday, Trump intensified his warnings, saying he had previously held back but would act if Powell remained in place. He indicated that Powell’s departure should coincide with the end of his term, otherwise dismissal would follow.

The remarks come as uncertainty surrounds the confirmation of Kevin Warsh, Trump’s nominee to replace Powell as Fed chair. Warsh is scheduled to appear before the Senate Banking Committee next week, but his path remains unclear. Senator Thom Tillis has said he would block the nomination until a federal criminal probe into Powell concludes. If no successor is confirmed, Powell would remain in his role.

Trump’s comments also follow ongoing scrutiny of a Federal Reserve building renovation project that the administration has criticized for cost overruns. The president gave no indication that the investigation would be halted. However, a federal prosecutor said in March that the probe had found no evidence of a crime.

Powell has rejected the investigation, describing it as an attempt to undermine the central bank’s independence in setting monetary policy.

Trump has repeatedly criticized the Federal Reserve’s cautious approach to cutting interest rates and has sought greater influence over its leadership. He has said he would not appoint a Fed chair who does not align with his views.

Earlier, Qazinform News Agency reported that Donald Trump claimed that the war against Iran is "very close" to completion.