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Here's how Trump's plan to oust Jerome Powell may backfire

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17.04.2026

Donald Trump, during his second term as president, has consistently shown us two things: He has a rapacious obsession with retribution, and he usually face-plants while seeking to punish his perceived enemies.

Now, Trump may show us a third thing. Not only will he flop in his effort to cast out Federal Reserve Chair Jerome Powell, but he may get the exact opposite of what he wants – more time with Powell in power.

Trump, still furious that Powell would not be bullied last year into lowering interest rates, sicced the Department of Justice on the Fed chief with a concocted criminal investigation that swiftly faltered. A judge has ruled twice since March 13 that the investigation was bunk, but the DOJ keeps plugging at it.

Powell's four-year term as Fed chair ends May 15, but his appointment to the Fed board runs until 2028. What happens four weeks from now if no replacement is confirmed? Powell could just stick around as boss.

Trump's retribution campaign against Powell could blow up in his face

The U.S. Senate's Committee on Banking, Housing, and Urban Affairs has scheduled an April 21 hearing to consider Trump's nomination of Kevin Warsh, who........

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