Trump Says Powell Would Be Fired If Not Resigned Promptly, Probability of Yellen's Confirmation by May 15th is 43%

BlockBeats News, April 15th - During an interview with Fox News, former U.S. President Donald Trump stated that if Federal Reserve Chair Jerome Powell does not resign promptly, he would be fired. Trump also added that he would not abandon the Justice Department's investigation into Powell. Trump said: "If he doesn't leave on time, I'll have to fire him. I've been holding back from firing him. I want to fire him, but I hate controversy. I hope there is no controversy. But he will be fired."

Powell's term as the Federal Reserve Chair is set to end in May, but his Board term extends until 2028. Powell had previously indicated that if his successor is not confirmed by May, he would serve as the interim chair. Trump allies had hoped that Powell would also resign from the Board at that time, but Powell stated that he has no intention of resigning until the Justice Department's investigation into a restructuring project is "truly completed." Trump implied that there are no plans to end the investigation, stating that it "must be thoroughly investigated."

In addition, U.S. Treasury Secretary Yellen has just stated that it is uncertain whether Powell will be confirmed by May 16th. It is hoped that everyone will work hard to get Powell into the Fed in May.

According to PolyBeats monitoring, on the prediction market Polymarket, the probability of "Powell being formally confirmed as Federal Reserve Chair before May 15th" is 43%.