As of January 15, 2026, President Donald Trump says he has no plans to remove Federal Reserve Chair Jerome Powell, despite the Department of Justice opening a criminal investigation into a $2.5 billion renovation at the Fed’s Washington HQ. “I don’t have any plan to do that,” Trump said, noting it’s “too early” to decide on any action. 🤷♂️
On January 11, sources said the U.S. Attorney’s Office for the District of Columbia launched the probe, examining whether Powell provided false testimony to Congress during a June 2025 hearing. Powell’s term as chair runs until May 2026, and his board membership extends to 2028. 🗓️
Looking ahead, Trump mentioned two names as possible successors: former Fed Governor Kevin Warsh or White House Economic Council Director Kevin Hassett. 🕵️♂️ Treasury Secretary Scott Bessent? Not on the shortlist. 🚫💼
With interest rate discussions heating up—and this legal saga unfolding—the financial world is watching closely. Stay tuned for updates! 🔍📈
Reference(s):
Trump says he has no plans to dismiss Fed Chair Jerome Powell
cgtn.com
