Trump threatens: if Powell does not resign immediately, I will fire him.

In an interview with Fox Business Channel, President Trump stated that if Federal Reserve Chairman Powell does not resign in a timely manner, he will be fired, adding that he will not abandon the Department of Justice's investigation into Powell. Trump said, "If he doesn't leave on time, I have to fire him. I've been holding back from firing him. I want to fire him, but I hate controversy." "I hope there's no controversy. But he will be fired." Powell's term as Federal Reserve Chairman expires in May, but his term as a board member extends until 2028. Powell stated that if his successor is not confirmed by May, he will serve as interim chairman. Trump allies had hoped Powell would also resign as a board member at that time, but Powell said he has no intention of resigning until the Department of Justice's investigation into a renovation project is "truly completed." Trump, on the other hand, implied that there are no plans to end the investigation, stating that it "must be investigated thoroughly."