Trump Renews Threats Against Fed Chair, Pushes for Replacement
Trump doubles down on criminal probe of Fed renovations, threatens to fire Powell if he stays on as chair past term's end. White House pushes new nominee Kevin Warsh to take charge.
President Trump has once again threatened to remove Jerome Powell from his position as chair of the Federal Reserve if he remains in the role past the end of his tenure. This comes as the White House continues to push for Kevin Warsh to take over the leadership of the central bank.
Trump has repeatedly criticized Powell's performance, calling him a "bad job" as the Federal Reserve chair. This renewed threat coincides with a criminal investigation by the Department of Justice into renovations made to the Fed's headquarters.
Powell's term is set to officially end on May 15th, but the possibility of him staying on past that date has grown due to mounting scrutiny in the Senate of Trump's approach to the Federal Reserve. The Senate must approve the president's nominee to replace Powell, which is where Kevin Warsh comes in as Trump's pick to take charge of the central bank.
Source: The Guardian
