Trump Vows to Fire Fed Chair Powell by May 15, Defying Legal Limits on Central Bank Independence

**TL;DR:** Trump says he will fire Fed Chair Jerome Powell from his board seat if Powell does not resign by May 15, escalating a clash with the central bank over interest rates and independence.

President Donald Trump intensified his pressure campaign against Federal Reserve Chair Jerome Powell this week, vowing to remove him from his separate seat on the Fed's board of governors if Powell does not resign when that term expires on May 15.

"If he's not leaving on time – I've held back firing him, I've wanted to fire him, but I hate to be controversial… he will be fired," Trump said in a Fox Business interview.

Legal experts quickly challenged the legality of the threat. The Federal Reserve Act limits the president's ability to remove Fed governors, and courts have already ruled against similar attempts. The administration lost a lawsuit seeking to remove Fed Governor Lisa Cook, and legal scholars say the Powell threat faces the same constitutional barriers.

"President Trump's threats of firing Chair Powell are simply not consistent with what the law provides," said Skanda Amarnath, executive director of the policy group Employ America. "He will likely lose again if he tries to fire Chair Powell."

The board seat and the chairmanship are separate positions. Even if removed from the board, Powell could theoretically remain Fed chair until his four-year term ends in 2026, though the White House has indicated it wants him out entirely.

The threat arrives amid broader efforts to reshape the central bank. Trump nominee Kevin Warsh awaits Senate confirmation to replace Powell as chair. Senator Thom Tillis has blocked the confirmation pending results of a federal criminal investigation into Powell related to a Fed building renovation project. Prosecutors disclosed in March that the investigation uncovered no evidence of a crime.

Watch for whether the Senate confirms Warsh next week and how courts respond if the administration attempts to remove Powell by force.