Trump Vows to Remove Fed Chair Powell if He Stays Post-Term
President Donald Trump warned he would remove Federal Reserve Chair Jerome Powell if Powell remains on the Fed board after his chair term expires next month. The comment came during an interview with Fox Business that aired Wednesday.
Powell’s stance
Powell has said he will not step down while a Justice Department investigation is active. He indicated he could continue as chair of the Fed’s interest rate-setting committee after his term ends if no successor is confirmed.
White House reaction and nomination
Trump has for months pushed to replace Powell, arguing the central bank has been slow to cut interest rates. He has nominated former Fed official Kevin Warsh to succeed the chair.
Confirmation delays and the probe
Warsh’s confirmation faces delays because of a Justice Department inquiry. The probe centers on brief remarks Powell made before the Senate Banking Committee last June about the Fed’s building renovation.
Senator Thom Tillis, a North Carolina Republican, said he will withhold votes on Fed nominees until investigators clear the matter.
Context and implications
Trump vows to act if Powell stays post-term on the Fed board. The president’s threat to remove Fed Chair Powell raises questions about norms and central bank independence.
- Interview aired Wednesday on Fox Business.
- Powell said he could remain after his term ends if no successor is confirmed.
- Justice Department probe relates to Powell’s comments last June.
- Sen. Thom Tillis blocks confirmations until the investigation ends.
Filmogaz.com will continue to follow developments as lawmakers and the White House respond. More updates are expected as the confirmation process and investigation progress.
