Trump Threatens to Fire Powell as He Presses Senate to Confirm Warsh

Overview

• Trump said he may remove Federal Reserve Chair Jerome Powell if Powell does not leave after a successor takes office.
• Kevin Warsh remains the nominee to lead the Fed and still needs Senate approval before any leadership change can occur.
• Trump urged senators to move quickly on Warsh’s confirmation and said he expects a vote as soon as next week.
• He said interest rates could fall once Warsh becomes chair, signaling a shift he wants in monetary policy.
• The Justice Department has opened an investigation into Powell, which Trump cited as a reason to, in his words, find out what happened at the Fed.