Federal Reserve Chairman Jerome Powell's term term ends May 15

President Donald Trump has threatened to fire Jerome Powell if he does not step down when his term as chair ends May 15. The move comes after a series of confrontations between the administration and the Federal Reserve. U.S. attorneys from the Washington D.C. office have been leading a criminal probe into Powell, which focuses on Powell's testimony to Congress regarding cost overruns in a multibillion-dollar multibillion-dollar office renovation project. The investigation seeks to determine if public money was wasted and if Powell Powelly made false statements to Congress. U.S. Attorney Jeanine Pirro, citing an 80% cost overrun, stated the project deserves review. Chief Judge James Boasberg, however, ruled that the DOJ's probe was driven by President Donald Trump's political animus toward Powell, and effectively blocked the investigation. Following this ruling, DOJ prosecutors Carlton Davis and Steven Vandervelden, and a case agent, made an unannounced visit to the Fed's construction site to request a tour. Fed management denied them access to the site without preauthorized clearance. The prosecutors were turned away. President Donald Trump has again threatened to fire Powell if he does not step not step down when his term as chair ends May 15.