President Donald Trump stated he would act if Federal Reserve Chair Jerome Powell does not step down when his term concludes in May.
By yourNEWS Media Newsroom
President Donald Trump said he would remove Jerome Powell from his position if Powell does not step down when his term as chair of the Federal Reserve ends on May 15.
In an interview with Maria Bartiromo, Trump indicated he had previously refrained from taking action but signaled that he is prepared to do so if Powell remains in the role beyond the expiration of his term.
“I’ve held back [from] firing him. I’ve wanted to fire him,” Trump said during the April 15 appearance. “But I have to be controversial, you know. I want to be uncontroversial. But he will be fired.”
Powell has previously stated he intends to continue serving as chair until a successor is confirmed. Last month, he told reporters he would remain in the position until the confirmation process for his replacement is complete.
The administration has identified Kevin Warsh, a former Federal Reserve governor, as the expected successor.
The Federal Reserve chairmanship is subject to Senate confirmation, and transitions typically involve overlap to ensure continuity in monetary policy leadership. The situation places attention on the timing of the confirmation process and the potential for a leadership change at the central bank in the coming weeks.
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