Chicago – April 15, 2026
President Donald Trump said he would fire Federal Reserve Chair Jerome Powell if Powell does not step down when his term ends in May, escalating pressure on the central bank leader over interest rates and the Fed’s renovation costs.
Trump made the remarks in a Fox Business interview, saying he had “held back” from removing Powell but would act if Powell stayed on past his chairmanship.
Powell’s term as chair is due to expire on May 15, though he could remain as a Federal Reserve governor until 2028. Trump has repeatedly criticized Powell for not cutting rates more aggressively and has also targeted the Fed’s headquarters renovation as part of his case against him.
Analysts say an attempted removal would mark an extraordinary break with tradition and could unsettle markets.
