Trump threatens to fire Fed chair Powell if he doesn't leave in May

US President Donald Trump has threatened to fire Federal Reserve Chair Jerome Powell if he does not step aside at the end of his term in May.The two have been embroiled in a bitter spat over Powell's reluctance to cut the central bank's interest rate, despite Trump's repeated calls.Powell's term expires on 15 May, but he is planning to remain in post until his successor, Kevin Warsh, is confirmed by the Senate."Then I'll have to fire him," Trump told Fox Business, when asked about Powell's plans to stay on in the job."I've held back firing him. I've wanted to fire him, but I hate to be controversial," Trump said.Thom Tillis, an influential Republican senator on the committee which oversees nominations for the Federal Reserve chair, has threatened to block Warsh's confirmation. If Warsh is not confirmed before Powell's term expires, he plans to stay on temporarily in the post."That's what the law calls for. That's what we've done on several occasions," Powell has said.Tillis has warned Trump he will not let Warsh's appointment go ahead unless a criminal investigation into Powell, linked to the renovation of the Federal Reserve building, is dropped.