President Donald Trump ratcheded up his threats on Wednesday morning to fire Federal Reserve Chair Jerome Powell, and said that he would not drop the Justice Department’s criminal investigation of Powell.
“Then I’ll have to fire him,” Trump said in an interview with Maria Bartiromo on Fox Business. “If he’s not leaving on time — I’ve held back firing him. I’ve wanted to fire him, but I hate to be controversial. I want to be uncontroversial.”
Powell’s tenure ends on May 15, but he could stay in the role on a temporary basis until Trump’s nominee, Kevin M. Warsh, is confirmed by the Senate. On Tuesday, Senate Banking Committee Chairman Tim Scott said that he plans to hold Warsh’s committee confirmation hearing next Tuesday.