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Trump Threatens Powell Amid Fed Investigation Delays Warsh

4/18/2026

39 5 Full Breakdown

Summary

Story summary

U.S. President Donald Trump has threatened to fire Federal Reserve Chair Jerome Powell after May 15.
The investigation into Powell's handling of a $2.5 billion Fed renovation continues, hindering Kevin Warsh's confirmation.
Senator Thom Tillis vows to block Warsh until the investigation concludes.
Powell says he will stay on as chair, criticizing the probe as an attempt to undermine the Fed's independence.

History

Historical Context

The Federal Reserve System was established on December 23, 1913, following the Panic of 1907, to stabilize the U.S. economy by managing monetary policy. This act created a central bank with a dual mandate of maximizing employment and stabilizing prices. Tensions between political leaders and the Fed's independence, as seen in President Trump's criticisms of Chair Jerome Powell, reflect ongoing debates about the Fed's role and governance.

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Story summary

U.S. President Donald Trump has threatened to fire Federal Reserve Chair Jerome Powell after May 15.
The investigation into Powell's handling of a $2.5 billion Fed renovation continues, hindering Kevin Warsh's confirmation.
Senator Thom Tillis vows to block Warsh until the investigation concludes.
Powell says he will stay on as chair, criticizing the probe as an attempt to undermine the Fed's independence.

1 / 2