Jerome Powell Now Considering Move to Spite Trump: Report
The piece details a political standoff between President Trump and Federal Reserve Chair Jerome Powell over Powell’s tenure and the Fed’s policy path. Key points:
– Powell is reportedly more open to staying on after his chair term ends,potentially in a governor role,even though his board term runs through 2028 and his chairmanship ends May 15,which could extend the feud with Trump for years.
– Trump has publicly threatened to fire Powell if he does not step down by May 15, and has signaled that his preferred replacement-Kevin warsh-has strong Republican support in the Senate.
– Powell’s central stance has been to resist calls to lower interest rates, a position Trump and his allies say is needed to boost the economy.
– The Department of Justice has opened a criminal examination into Powell regarding alleged misuse of renovation funds for Federal Reserve buildings.Powell confirmed subpoenas and framed the issue within a broader context of accountability and the rule of law.
– Politico reports Powell’s reluctance to be pushed out could lead him to consider a governorship after his chair term ends, amid ongoing pressure from Trump.
– Warsh, a longtime critic of Powell, was named by trump as his pick to chair the Fed, and he has notable support among Republicans in the Senate.
In the ongoing feud between President Donald Trump and Federal Reserve Chair Jerome Powell, it’s not the president who appears ready to fire off the latest salvo.
Rather, it appears Powell is planning a move against the man who has long been tied to his potential ouster, per Politico.
The liberal outlet reported that Powell may now look to stick around at the Fed even after his chairmanship expires.
Powell is now “far more open” to staying after his chairmanship expires, potentially in a governorship role, Politico reported.
Of note, Powell’s board term doesn’t end until 2028, while his chair term ends on May 15 — potentially setting up another two years of feuding with Trump.
The core issue at hand is Powell’s general refusal to have the central bank lower interest rates, which Trump and his administration have been asking for, and consider key to boosting the economy.
While it has mostly been a war of words, things appeared to escalate when the Department of Justice opened up an investigation into Powell about his alleged misuse of building renovation funds.
As reported by ABC News in January, the Justice Department formally opened up a criminal investigation into Powell, which the chair confirmed in a statement.
Powell confirmed that “the Department of Justice served the Federal Reserve with grand jury subpoenas, threatening a criminal indictment related to my testimony before the Senate Banking Committee last June. That testimony concerned in part a multi-year project to renovate historic Federal Reserve office buildings.”
He continued, “I have deep respect for the rule of law and for accountability in our democracy. No one — certainly not the chair of the Federal Reserve — is above the law. But this unprecedented action should be seen in the broader context of the administration’s threats and ongoing pressure.”
“This new threat is not about my testimony last June or about the renovation of the Federal Reserve buildings. It is not about Congress’s oversight role; the Fed through testimony and other public disclosures made every effort to keep Congress informed about the renovation project. Those are pretexts,” he continued.
“The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President.”
Politico’s report made clear that Powell is bristling against this heat, prompting his sudden consideration of adopting a governor role after his chairmanship expires.
Powell apparently took particular umbrage at the president’s latest threat to fire him — if he doesn’t step down on May 15 — which occurred during a Wednesday Fox News interview:
🚨 HOLY CRAP! President Trump is FIRING Fed Chair Jerome Powell if he refuses to step down in time for Kevin Warsh
FOX: You’re not gonna drop the probe?
TRUMP: “I have to find out.”
FOX: He said he’s not leaving.
TRUMP: “Then I’ll HAVE TO FIRE HIM! OK? If he’s not leaving on… pic.twitter.com/0spB8NYaj4
— Eric Daugherty (@EricLDaugh) April 15, 2026
But while Powell may be considering staying out of spite toward Trump, the president’s top choice to replace the current chair apparently has widespread Republican support in the Senate.
Kevin Warsh, a staunch critic of Powell, was announced in January as Trump’s pick to take the chairmanship.
Advertise with The Western Journal and reach millions of highly engaged readers, while supporting our work. Advertise Today.
" Conservative News Daily does not always share or support the views and opinions expressed here; they are just those of the writer."
*As an Amazon Associate I earn from qualifying purchases
