President Trump has set a hard deadline of May 15 for Federal Reserve Chair Jerome Powell, declaring he will no longer tolerate the chairman’s inaction. During an interview with Maria Bartiromo, Trump stated: “I’ve held back firing him,” he said. “I’ve wanted to fire him, but I hate to be controversial, you know? Well then, I’ll have to fire him.”

The president has pressed Powell for months to lower interest rates, calling the Fed chairman ineffective and claiming it is out of step with the U.S. economy. Each time, Powell has held firm.

Powell’s term as Fed chairman ends May 15, but President Trump has selected former Fed Governor Kevin Warsh for replacement with a confirmation hearing scheduled for April 21. The plan was for a clean transition: Warsh would assume the role immediately after Powell stepped down.

However, Powell faces an ongoing DOJ investigation into the Federal Reserve’s $2.5 billion Washington headquarters renovation. Powell has stated he will not resign from his Fed board role until the investigation concludes with “transparency and finality.”

A federal judge recently ruled that the investigation was a political setup. Judge James Boasberg found prosecutors offered no evidence of criminal conduct beyond displeasing the President, and noted the subpoenas were designed to harass Powell into yielding or resigning.

Despite this ruling, DOJ prosecutors visited the Fed construction site on Tuesday, showing no intention of backing down.

Senator Thom Tillis of North Carolina, a key Republican vote on the Senate Banking Committee, has indicated he will not confirm Warsh until the DOJ investigation against Powell is resolved. This creates a deadlock: Trump’s leverage to force Powell out is also blocking his intended replacement from taking office.

President Trump has refused to halt the DOJ probe. “Don’t you think we have to find out what happened there?” he asked. He insists Senator Tillis will eventually recognize that allowing an “incompetent guy” to remain in power longer than necessary would be a damaging legacy.

Separately, the Supreme Court is reviewing Trump’s attempt to remove Fed board member Lisa Cook, a case that could define presidential authority over the independent Federal Reserve.

With less than a month until Powell’s term ends on May 15, the situation remains tense. Powell remains entrenched while the Senate gridlocks and legal battles escalate.