Trump Threatens to Fire Jay Powell

The president has stated he will seek to remove Powell from his separate seat on the Fed's Board of Governors if he stays past May.

The timing of Powell's potential departure is complicated by a Department of Justice criminal investigation into renovations at the Fed's headquarters.

Trump is pushing for the confirmation of nominee Kevin Warsh, whose financial disclosures reveal a net worth exceeding $100 million.

Critics warn that firing the head of the central bank would undermine its independence and harm the economy's ability to battle inflation.