Donald Trump told Fox Business on Tuesday he will fire Federal Reserve Chair Jerome Powell if Powell does not leave when his term expires next month.

“I’ll have to fire him, OK, if he’s not leaving on time,” Trump said. “I’ve held back firing him. I’ve wanted to fire him, but I hate to be controversial.”

Trump’s remarks landed hours after prosecutors from U.S. Attorney Jeanine Pirro’s office showed up unannounced at the Fed’s $2.5 billion renovation site.

A federal judge threw out the probe’s subpoenas last month, finding it appeared designed to pressure Powell into lowering rates.

Powell has said he will stay on as chair pro tem if his successor is not confirmed by May 15. Trump’s nominee, former Fed governor Kevin Warsh, has a confirmation hearing set for April 21, but Sen. Thom Tillis (R-NC) has refused to vote for any Fed nominee until the DOJ drops its probe into Powell.

When the Fox interviewer asked whether Tillis would cooperate, Trump said: “He might not, but that’s why Tillis is no longer a senator.” Tillis announced last year he would not seek reelection but still serves on the Banking Committee through January 2027.

Prediction Markets Disagree With The President

Trump has called Powell a “jerk” and demanded rate cuts. Prediction market bettors are siding with Powell.

On Polymarket, the single most likely outcome for 2026 is zero rate cuts at 41%. One cut sits at 27%. Before the war with Iran started, two and three cuts were the leading contenders, but the inflation spike caused by energy price increases has prompted the market to rethink this year’s outlook.

Treasury Secretary Scott Bessent said Monday that the Fed is "doing the right thing by sitting and watching," as the conflict plays out, but then later walked back his comments.

Polymarket traders think there is a 43% chance Warsh is confirmed by May 15th.

The Next Fed Chair Holds Polymarket And 30 Crypto Positions

Warsh’s 69-page financial disclosure may generate as many headlines as Trump’s threat. His assets total between $135 million and $226 million. His wife, Jane Lauder, heir to the Estée Lauder fortune, is worth an estimated $1.9 billion.

Buried in the filing are over 30 crypto and blockchain positions, including Solana (CRYPTO: SOL), Compound, dYdX, Optimism, Polychain Capital, and prediction market platform Polymarket.

Most are small venture bets in fund wrappers, but the incoming Fed chair holding direct DeFi and prediction market exposure is without precedent. Warsh has pledged to divest if confirmed.

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