On January 15, US President Donald Trump stated that there are currently no plans to fire Federal Reserve Chairman Jerome Powell, despite the Justice Department conducting a criminal investigation into Powell. However, Trump also emphasized that it is "still too early" to draw any conclusions or make any final decisions.
In an interview with Reuters, when asked whether he would seek to remove Powell from his position as Fed Chairman, President Trump said: “I don’t have any such plans right now.” When asked whether the investigation would provide grounds for action, he said the White House was in a “wait and see” state, and declined to comment further, saying the time was not right.
Powell's tenure and succession scenarios
You may not know this, but the BingX exchange offers many privileges for new members and VIP members.
Jerome Powell will end his term as Fed Chairman next May, but he is not required to leave the Fed Board of Governors until 2028. This means that even after leaving the chairmanship, Powell can still exert a certain influence on the Fed's monetary policy.
President Trump also revealed his preferred choices for the next Fed chairman, including Kevin Warsh – the former Fed governor, and Kevin Hassett – the director of the National Economic Council. Meanwhile, Trump asserted that Treasury Secretary Scott Bessent would not be considered, as he wanted to continue in his current Vai .
