Trump threatens to fire Jerome Powell if he refuses to step down, warns Tillis

WASHINGTON, DC: President Donald Trump on Wednesday, April 15, indicated that he may take action against Federal Reserve Chair Jerome Powell if he continues in his role past the end of his term.

Trump's remarks during his interview with Fox Business have raised fresh questions about the future leadership of the Federal Reserve at a critical moment.

President hints at Powell's removal

During a conversation with Fox Business anchor Maria Bartiromo, Trump was asked about both the ongoing federal probe tied to the Federal Reserve and Powell’s intention to stay on.

“I have to find out,” Trump said when questioned about halting the investigation.

The discussion then turned to Powell’s position. When Bartiromo noted that the Fed chair has no plans to leave, Trump responded bluntly, saying, “Then I’ll have to fire him. 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.”

The remarks come just weeks before Powell’s current term as chair is set to conclude on May 15.

Under existing rules, however, he could temporarily continue in the role if a successor is not confirmed in time.

Trump has nominated Kevin Warsh to take over the role, but the confirmation process remains uncertain. 

A key Senate voice, Thom Tillis, has said he will not support the nomination until a Justice Department probe involving Powell is completed.

Responding to a question about Tillis’ position, Trump said, “He might not but that’s why Thom Tillis will no longer be a senator.”

The investigation referenced in the interview centers on the Federal Reserve’s headquarters renovation project, which has drawn scrutiny over its cost.

Trump highlighted his position on continuing the probe as he warned Sen. Thom Tillis of consequences.

Powell indicates no immediate plans to step down

Powell, meanwhile, has maintained that he will remain in place during the ongoing investigation.

In earlier remarks, he stated that he has no intention of stepping away until the process concludes with “transparency and finality.”

Although his chairmanship term ends in mid-May, Powell’s tenure as a member of the Federal Reserve Board extends until 2028, leaving open the possibility of continued involvement even if leadership changes.

The current situation leaves multiple paths open ahead of the deadline.

With a nominee awaiting confirmation, an active investigation underway, and the current chair signaling continuity, the Federal Reserve faces a period of uncertainty.

However, Trump’s latest comments introduce the possibility of a more direct intervention if the transition does not unfold as expected, while the outcome will depend on both Senate action and the legal review.