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The Guardian - US
The Guardian - US
Business
Lauren Aratani in New York

Trump threatens to fire Fed chair Jerome Powell amid pressure campaign

Jerome Powell Donald Trump Kevin Warsh Thom Tillis US Federal Reserve
A gray-haired man in a suit sitting against a black backdrop
Jerome Powell, the Federal Reserve chair, at Harvard University on 30 March 2026 in Cambridge, Massachusetts. Photograph: Sophie Park/Getty Images

Donald Trump threatened to fire Jerome Powell if he stays on as US Federal Reserve chair past the end of his tenure and doubled down on a criminal investigation into renovations of the central bank’s headquarters.

As the White House pushes Trump’s new nominee to take charge of the Fed, Kevin Warsh, Powell has a month left in the role. The possibility of Powell staying on as chair past 15 May, the official end of his term, has grown amid mounting scrutiny of Trump’s approach to the Fed in the Senate, which is required to approve Warsh’s nomination.

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