Trump threatens to fire Powell

Trump has repeatedly criticized Powell's performance, particularly regarding interest rate decisions and the ongoing investigation into renovations at the Fed's headquarters.

The president is pushing for the confirmation of Kevin Warsh as Powell's successor, a move that critics say would further politicize monetary policy.

Powell has stated that he intends to serve as chair pro tempore if a successor is not confirmed in time.

This escalating vendetta comes as the Fed struggles to balance inflation control with the economic shocks of the Iran war.