Trump Threatens to Fire Fed Chair Powell If He Does Not Step Down in May

Trump threatened to fire Powell if he does not step down when his term ends on May 15.

“United States President Donald Trump says he would fire US Federal Reserve Chair Jerome Powell from his separate seat on the central bank’s board of governors if Powell does not step down voluntarily when his term ends on May 15”

Al Jazeera

Powell has two years remaining on his term as governor.

Al Jazeera

Warsh's confirmation is being blocked by Senator Thom Tillis.

Trump said the renovation investigation must continue, calling it probably corrupt but really incompetent.

The Justice Department has been investigating the Fed's $2.5 billion headquarters renovation.

Pirro tried issuing a subpoena to Powell but was rebuffed by a judge.

American Banker

Prosecutors showed up unannounced at the Fed renovation site.

Trump has used the probe as leverage against Powell.

Powell has said he will stay on until the investigation is over and a successor is confirmed.

He has no intention of leaving the board until the investigation is well and truly over.

The Fed has used the chair pro tempore designation in the past.

Trump has repeatedly demanded lower interest rates.

The investigation and firing threats have thrown the Fed into unprecedented turmoil.

BBC

Senate Majority Leader John Thune urged the Trump administration to wrap up the investigation.