#BigNewsAlert🇺🇸

the latest around President Donald Trump renewing his threat against the Federal Reserve:

What Trump said and did:

• President **Donald Trump renewed his threat to fire Federal Reserve Chair Jerome Powell if Powell doesn’t step down when his term ends on May 15. He told Fox Business he’d “have to fire him” if Powell doesn’t leave.

• Trump has been sharply critical of Powell’s policies — especially for not cutting interest rates as aggressively as he wants — and blames him for not supporting quicker rate reductions.

• He supports his nominee Kevin Warsh as Powell’s successor, but Warsh’s confirmation in the Senate is stalled because a Justice Department investigation into a costly Fed renovation project complicates approval.

The Justice Department probe:

• The DOJ is probing cost overruns on a $2.5 billion Federal Reserve renovation project. Prosecutors even made surprise visits to the Fed building as part of this investigation.

• A federal judge has described parts of the investigation as politically motivated, and Powell has said he won’t resign while the probe continues.

Issues and implications:

• Trump’s threats against Powell — an independent central banker — have raised concerns about political interference in the Federal Reserve. Critics, including lawmakers, argue this could undermine the Fed’s long-held independence and unsettle financial markets.

• The Senate Banking Committee’s key Republican member has said he won’t back any Fed nominee until the renovation probe ends, adding uncertainty to Trump’s plan.

In short: Trump has escalated his feud with Fed Chair Powell, threatening to fire him if he stays beyond his term, backing a controversial DOJ probe of the Fed, and pushing a nominee whose confirmation is slowed by the investigation — moves that are stirring concerns about the political independence of the U.S. central bank.