Trump threatens to fire Federal Reserve Chair Jerome Powell over investigation and term expiration

Donald Trump stated he would dismiss Jerome Powell if the Federal Reserve chair fails to depart his position promptly, referencing an ongoing Justice Department inquiry. Powell's leadership role concludes in May, though his board membership extends until 2028. In a Fox Business interview recorded Wednesday and broadcast Thursday, Trump expressed reluctance but determination, saying, "I'll have to fire him, OK, if he's not leaving on time." Powell has indicated he would serve as chair pro tempore if no successor is confirmed by May, a temporary designation previously used by the Fed. Despite hopes from Trump allies that Powell would resign his board seat this spring, Powell has declared he has "no intention" of leaving until the Justice Department's investigation into a building renovation project concludes. Trump did not specify a timeline for potential removal.