BlockBeats News, April 15th. During an interview with Fox News, U.S. President Trump stated that if Federal Reserve Chairman Powell does not resign in a timely manner, he will be fired. Trump also added that he will not abandon the Department of Justice’s investigation into Powell. Trump said, “If he doesn’t leave on time, I’ll have to fire him. I’ve been holding back from firing him. I want to fire him, but I hate causing controversy. I hope there is no controversy. But he will be fired.”
Powell’s term as Federal Reserve Chairman will end in May, but his term as a board member will continue until 2028. Powell had previously stated that if his successor is not confirmed by May, he will serve as the interim chairman. Trump allies had hoped that Powell would also resign from the board at that time, but Powell said he has no intention of resigning until the Justice Department’s investigation into a renovation project is “truly completed.” Trump, however, hinted that there are no plans to end the investigation, stating, “We must get to the bottom of it.”
In addition, U.S. Treasury Secretary Yellen just stated that it is uncertain whether Brainard will be confirmed by May 16th. Hopefully, everyone will work hard to get Brainard into the Fed in May.
According to PolyBeats monitoring, the probability on the prediction market Polymarket for “Brainard to be formally confirmed as the Fed Chair before May 15th” is 43%.
