Trump: "Will Fire Powell If He Doesn't Resign from Fed Board After Chair Term"

by Hwang Yoonju

Published 16 Apr.2026 02:40(KST)

Confirmation Hearing for Fed Chair Nominee Kevin Warsh Next Week

U.S. President Donald Trump. The White House

U.S. President Donald Trump stated on the 15th (local time) that he would fire Federal Reserve (Fed) Chair Jerome Powell if Powell does not step down from the Fed Board after his chairmanship ends next month.

According to Fox Business on this day, President Trump, in an interview with the network the previous day, said, on the assumption that Chair Powell does not resign, "Then I will have to fire him." He added, "Until now, I have refrained from firing him," and, "I have wanted to fire him, but I did not want to create controversy."

Since taking office, President Trump has continuously demanded that Chair Powell lower the benchmark interest rate. However, as the Fed under Powell's leadership has emphasized its independence and conducted monetary policy accordingly, Trump has repeatedly threatened to dismiss him.

Chair Powell's term ends on the 15th of next month, while his term as a board member lasts until January 2028. By convention, Fed chairs typically step down from the board after their chairmanship ends. Previously, Chair Powell stated that he would not resign unless the federal prosecutor's investigation into suspected excessive spending on building renovations is concluded.

Additionally, when asked about the likelihood of Kevin Warsh, the Fed nominee, being confirmed, President Trump responded, "I hope so," adding, "Senator Tillis is an American. He knows what to do. Let's see what happens."

President Trump has nominated former Fed Governor Kevin Warsh as Powell's successor. Kevin Warsh’s confirmation hearing is scheduled for the 21st, but his confirmation remains uncertain.

This is because Republican Senator Thom Tillis of North Carolina has maintained his position that he will oppose Warsh’s confirmation unless the investigation into Chair Powell is concluded.

Furthermore, when asked if he believed the benchmark interest rate would be lowered by the end of this year, President Trump answered, "If Kevin takes over, I think that will happen."