President Donald Trump intensified his confrontation with Federal Reserve Chair Jerome Powell during a Fox News interview, stating he would fire Powell if he does not leave office by the end of his term in May. Trump revealed he has been 'holding back' from taking action against Powell, indicating that the ongoing Justice Department (DOJ) investigation into Powell's management of a Federal Reserve renovation project will continue, thus complicating Powell's potential voluntary departure. While Powell's chair term ends in May, he can remain as a Federal Reserve governor until 2028. Powell has stated he will not resign until the DOJ investigation concludes. Meanwhile, uncertainty looms over the confirmation of Powell's potential successor, Kevin Warsh, as Treasury Secretary Scott Bessant acknowledged that it is unclear if Warsh will be confirmed before May 16. Polymarket currently prices the likelihood of Warsh's confirmation before May 15 at 43%, reflecting significant uncertainty surrounding the transition of Fed leadership.