Powell critic Sen. Elizabeth Warren, D-Mass., recently warned that Trump destroying the Fed’s independence would spell catastrophe for U.S. markets.
President Donald Trump has spoken with former Federal Reserve Governor Kevin Warsh about possibly replacing the current central bank chairman, Jerome Powell, before his term expires, the Wall Street Journal reported Thursday.
But Warsh has advised Trump not to fire Powell or interfere with his tenure, the Journal reported, citing people familiar with the matter. Powell’s four-year term is set to end May 2026.
Trump spoke with Warsh in meetings at the president’s home and private club Mar-a-Lago in Florida, the newspaper reported.
