Trump threatens to fire Fed Chair Jerome Powell if he does not resign

On April 15, 2026, President Donald Trump said he would fire Federal Reserve Chair Jerome Powell if Powell does not step down when his term expires in mid-May, telling reporters "I'd have to fire [Powell if he doesn't leave]," CNN Business reported. Trump said he has "already held back by not terminating the Fed chair," and the Financial Times reported Trump insisted the Justice Department will not drop a criminal investigation into Powell. If Powell departs, Trump would nominate a successor who would require Senate confirmation, a change that could reshape Federal Reserve leadership and affect markets and interest-rate expectations ahead of upcoming economic data.