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WSJ Minute Briefing

Trump Threatens to Fire Powell Once Fed Chair Term Ends

WSJ Minute Briefing

The Wall Street Journal

Business News, News

4.1671 Ratings

🗓️ 15 April 2026

⏱️ 3 minutes

🧾️ Download transcript

Summary

Plus: The Trump administration is eyeing a head of the CDC after months of upheaval at the health agency. And Bank of America is the latest big lender seeing resilience in the U.S. economy. Pierre Bienaimé hosts. Sign up for WSJ’s free What’s News newsletter. An artificial-intelligence tool assisted in the making of this episode by creating summaries that were based on Wall Street Journal reporting and reviewed and adapted by an editor. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Access to affordable credit helps me pay my employees, but I don't really need it.

0:05.0

Infliction is killing me!

0:08.0

But who cares? Big retailers are making record profits!

0:12.0

That's why we support the Durban Marshall Credit Card Bill!

0:15.0

See? Banks and credit unions help small businesses make payroll.

0:18.0

This bill would cut the vital resources they need.

0:25.1

While increasing megastore profits, they deserve it. Don't they?

0:29.1

Tell Congress, stop the Durban Marshall money grab for corporate megastores.

0:31.2

Paid for by the Electronic Payments Coalition.

0:41.0

Here's your midday brief for Wednesday, April 15th. I'm Pierre Bienname for the Wall Street Journal.

0:47.0

President Trump is threatening to fire Jerome Powell if he doesn't resign as a voting member of the Fed's board once his term as Federal Reserve Chair ends next month. During a Fox business interview,

0:52.5

Trump also said he wouldn't drop the Justice Department's

0:54.8

criminal investigation of Powell. The investigation is examining whether Powell lied to Congress

0:59.7

in testimony about a Fed building renovation. Powell has said the investigation is a pretext,

1:05.1

part of Trump's long-running efforts to influence how the Fed sets interest rates. Meanwhile,

1:10.1

the Wall Street Journal has learned that the Trump administration is expected to choose Erica Schwartz to lead the CDC, pending approval from the president.

1:17.7

Schwartz is a physician and was deputy surgeon general during the first Trump administration.

1:22.2

The White House has sought to rein in Health Secretary Robert F. Kennedy Jr. on vaccine policy.

1:28.4

The CDC nominee's vaccine stance will play an important role in securing Senate confirmation. In a recent video

1:33.4

posted to Instagram, Schwartz said her job as a military physician was, quote, all about

1:38.5

public health prevention, vaccines, early detection. And Bank of America says its profit rose 17% in the first quarter

1:45.9

compared to a year ago, reaching $8.58 billion. Revenue also rose, driven by net interest

...

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