Trump Threatens to Fire Fed Chair

The independence of the Federal Reserve is under renewed pressure as President Trump doubles down on his intent to oust Jerome Powell.

While Powell's term as chair ends next month, he holds a seat on the board of governors until 2028 and has indicated he will not leave until a criminal probe into Fed renovations is concluded.

Justice Department officials were recently turned away from a Fed construction site, further intensifying the standoff between the White House and the central bank.

Financial experts warn that any attempt to forcibly remove the Fed chief could trigger a legal firestorm and destabilize global markets.