Trump threatens to fire Fed chair Powell before May term end

AI Summary

US President Donald Trump has threatened to fire Federal Reserve Chair Jerome Powell if he does not step down by May 15. This statement comes amid a conflict regarding Powell's reluctance to cut interest rates, despite Trump's requests. Powell's successor, Kevin Warsh, faces potential confirmation delays due to Senator Thom Tillis's opposition, which is tied to an ongoing investigation into Powell's conduct. Trump has expressed a desire for Warsh's confirmation but indicated he will not drop the probe into Powell. These developments could impact Federal Reserve policy and financial markets as they evolve.