Donald Trump has, for months, pushed for Federal Reserve Chair Jerome Powell to step down. It stems from a longstanding feud between the two, wherein the administration has attempted to pressure and bend the central bank to the president’s will. While Powell has tried to avoid a public conflict with Trump, it appears his exit is not imminent.
On Wednesday, Powell said during a news conference that he has no intention of leaving the Federal Reserve. He added that he will remain in his position until the Justice Department’s investigation is completed with full compliance and transparency.
In a social media post, one user harshly criticized Trump, claiming he had severely damaged the country.
Trump has killed America.
It was already dying but the chimp has put the cushion over its face.
Fed Chair Jerome Powell gives the bad news:
“There is effectively ZERO NET JOB CREATION in the private sector.”
pic.twitter.com/pGp6dX66Bg
— ADAM (@AdameMedia) March 18, 2026
Powell’s tenure is scheduled to end May 15, but a special provision could extend his stay. He is expected to remain on the board under a separately confirmed 14-year term. This would keep him at the central bank until early 2028. In his statement, Powell suggested the administration’s handling of the investigation has increased its own challenges.
Reflecting on the investigation, Powell said he has not set any personal plans. Addressing his feud with Trump publicly for the first time, the Fed chair said, “I will do what I think is best for the institution and for the people we serve.”
While the outcome of the probe remains pending, his remarks offer insight into its potential aftermath. It highlights Trump’s push to reshape the central bank, noting that seven of its governors were appointed by the 79-year-old.
If Powell is removed, it would give Trump a majority on the board. Moreover, aside from Powell, there are no vacancies on the Federal Reserve board for the president to fill with a candidate of his choice.
Addressing a potential leadership vacuum amid the ongoing investigation, Powell discussed possible succession plans. The confirmation of Kevin Warsh as a replacement has been put on hold pending the inquiry. The Senate has also declined to proceed with a vote for the same reason.
J. POWELL BLAMES TRUMP FOR INFLATION SURGE
In a stunning moment, Jerome Powell slaps blame directly on Donald Trump’s tariffs for inflation to skyrocket.#Trump #Bitcoin #Ethereum pic.twitter.com/CkoyqJM4VL
— Humanoid Tiger News & Updates (@humanoidtiger_) March 19, 2026
Powell said that if his successor is not confirmed by May, he would continue leading the central bank. However, his position would be renamed “chair pro tempore.” He added, “That is what the law calls for. That’s what we’ve done on several occasions, including in my case. And it’s what we’re going to do here.”
The Justice Department (DOJ) probe stems from portions of Powell’s past congressional testimony. It relates to the Federal building renovation project cost of which is estimated at more than $3 billion. It became a political controversy under the Trump administration, which alleged mismanagement of funds. The issue adds to the criticism of the Federal Reserve’s refusal to lower interest rates.
In response to the president’s calls for rate cuts, Powell said further reductions could signal economic trouble. He noted that such moves could indicate a weakening economy or rising inflation, both unfavorable scenarios for any U.S. president.
