Trump Threatens to Dismiss Powell if He Remains as Fed Chair After May 15 Term End

Gate News message, April 15 — President Trump stated he will dismiss Federal Reserve Chair Jerome Powell if Powell remains in office after his current term ends on May 15, 2026. In an interview, Trump said, "If he doesn't leave, then I'll have to fire him." Trump's nominee to replace Powell, Christoph Waller, has not yet been confirmed by the Senate, meaning Powell could potentially continue as an interim chair during the transition period.

The Justice Department is currently investigating the Federal Reserve's headquarters renovation project. Trump has repeatedly criticized Powell for not cutting interest rates according to his preferences and has questioned the engineering project's costs, describing the situation as "possibly involving corruption or serious mismanagement."

Powell previously stated he would remain in office as required by law if his successor is not confirmed. Powell responded to Trump's criticism by saying he has no intention of resigning before the investigation concludes, emphasizing he will fulfill his duties until the investigation is "fully complete and yields transparent conclusions."