During an interview broadcast on Fox Business Channel on Wednesday morning, Trump threatened to fire Jerome Powell if he continues leading the Federal Reserve after his term ends next month. Trump said he has been holding back from firing Powell for a long time, having wanted to do so for quite some time, but refrained out of concern for controversy. Originally, Republicans had hoped to focus on tax reduction issues today, but Trump's remarks have intensified tensions surrounding the Federal Reserve and the politicization of law enforcement. The dispute over the Fed chairmanship has now entered a vicious cycle. Powell’s term is set to end on May 15th. According to Trump, if Powell does not step down by then, he will be removed. However, if the Senate has not yet confirmed his successor by that date, Powell could remain in office as acting chair. Trump has nominated Kevin Warsh as the next Fed chair, but Warsh is unlikely to gain Senate confirmation as long as Republican Senator Tillis maintains opposition. Tillis has stated he will only support Warsh once the Department of Justice drops its criminal investigation into Powell’s renovation of the Federal Reserve headquarters. Yet Trump reiterated that the government would not end this investigation—precisely this interference by the White House in law enforcement and Fed policy is what has caused the current deadlock and blocked the appointment of Trump’s preferred nominee.
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Original article: toutiao.com/article/1862603485544714/
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