Khaberni - US President Donald Trump renewed his pressure on Federal Reserve Chairman Jerome Powell on Wednesday, threatening to fire him if he stays in office after his term expires.
Powell's term at the helm of the Federal Reserve ends in mid-May, and Trump has repeatedly criticized the lack of more aggressive interest rate cuts.
Trump told Fox Business, "I'll have to fire him" if Powell does not leave on time.
He added, "I wanted to fire him."
Trump's administration has targeted the independent Federal Reserve on multiple levels, including launching an investigation into Powell regarding suspicions concerning the costs of remodeling reserve headquarters, and attempted to remove Federal Reserve Board member Lisa Cook.
In response to a question about whether he would halt the Justice Department's investigation related to Powell, Trump said, "I'm serious. I need to know the truth."
Trump appointed banker Kevin Warsh to succeed Powell, but he must be approved by the Senate before taking office.
Warsh will undergo a confirmation hearing in the Senate Banking Committee next Tuesday.
However, the confirmation process faces challenges amid some lawmakers' criticism of the Justice Department's investigation as political pressure on the Federal Reserve.
Senator Tom Tillis, a member of the Republican Party to which Trump belongs and who sits on the Senate Banking Committee, has pledged to stall the nomination as long as the investigation continues.
If Warsh's appointment process is stalled, Powell can legally remain in office as the chairman of the Federal Reserve.
Powell first took office as the chairman of the Federal Reserve during Donald Trump's first term in 2018, and was reappointed to the position under Democrat Joe Biden in 2022.
