Even if Trump fails to remove Powell, he may still try to undermine the Fed chairman by announcing his potential replacement soon — way before Powell’s term expires in May 2026.
US President Donald Trump and his administration have recently renewed political pressure on the US Federal Reserve (Fed) to cut interest rates.
Trump has once again threatened to fire Fed Chairman Jerome Powell, although the legality of doing so remains a key question. He has also seized allegations that Powell mismanaged the Fed’s multi-billion-dollar building renovation project as a possible avenue for ousting Powell.
