President Donald Trump on April 15 threatened to fire Federal Reserve Chair Jerome Powell if he does not vacate the chairmanship when his term ends on May 15, deepening a standoff that could complicate the Senate confirmation of Trump’s nominee, Kevin Warsh. Powell has said he will remain as a Fed governor — a post that runs through 2028 — and serve as acting chair until a successor is confirmed while a Department of Justice criminal probe into cost overruns on the Fed’s Washington headquarters renovation remains unresolved. The probe, overseen by U.S. Attorney Jeanine Pirro, has prompted judicial pushback: a federal judge recently quashed related grand jury subpoenas, yet prosecutors reportedly made an unannounced visit to the construction site. Republican Senator Thom Tillis has said he will withhold support for Warsh in the Senate Banking Committee until the investigation is closed, risking a delayed confirmation hearing scheduled for April 21. Administration officials say they want Warsh in place quickly, but the impasse raises the prospect Powell could remain in the Fed’s leadership longer than Trump intends, and any attempt to remove him would face unclear legal ground given statutory limits on firing Fed governors.

Allbirds Inc., the San Francisco shoe maker once valued at about $4 billion, announced in mid-April 2026 that it will sell its footwear assets and rebrand as NewBird AI to focus on AI compute infrastructure. The company agreed in late March to sell the Allbirds brand and related assets to American Exchange Group for roughly $39 million, and disclosed a $50 million convertible financing facility with an unnamed institutional investor to fund purchases of high-performance graphics processing units (GPUs). The move, announced April 15–16 and subject to shareholder approval at a special meeting expected May 18, 2026, aims to position the company as a GPU-as-a-Service and AI-native cloud provider. The stock, which had traded below $3 in recent sessions, spiked intraday by several hundred percent—peaking near 600%—after the announcement. Filings indicate the company may remove references to its prior public-benefit corporate status. Executives say proceeds would be used to lease or sell dedicated compute capacity to enterprises, developers and research groups; the company concedes the plan is early-stage and contingent on closing the financing and approvals.

NEW YORK, April 15, 2026 — U.S. equity benchmarks rallied to fresh records as hopes for progress in U.S.-Iran talks and strong corporate results pushed investors back into risk assets. The S&P 500 closed at a record 7,022.95 and the Nasdaq at 24,016.02, while the Dow was slightly lower around 48,463.72. President Donald Trump said the war with Iran was “close to over,” and sources told Reuters Iran might allow ships to transit the Omani side of the Strait of Hormuz if a deal reduces the risk of renewed conflict. Reports said talks could resume in Pakistan/Islamabad; the U.S. Treasury also announced sanctions targeting Iran’s oil-transport infrastructure. Oil prices steadied after recent swings — Brent near $94.93 a barrel and U.S. crude around $91.29 — as shipping flows remained disrupted. Bank of America and Morgan Stanley posted stronger-than-expected quarterly profits, aiding the rally, while technology and quantum-computing stocks led gains. Volatility measures eased and U.S. Treasury yields ticked up (two-year ~3.76%, 10-year ~4.28%), underscoring the market’s recalibration of growth, inflation and rate expectations.

U.S. taxpayers filed final returns on Tax Day 2026 amid Treasury and IRS data showing broad uptake of provisions in the Republican "One Big Beautiful Bill" tax law. More than 53 million filers claimed at least one new benefit through early April, including roughly 6 million using the exemption for tip income, about 21 million claiming the overtime deduction and some 30 million seniors taking an enhanced deduction. The IRS reported an average refund of roughly $3,462 — up about 11% ($350) from last year — and total refunds processed through early April exceeded $240 billion. State and county-level analyses show wide variation in average refunds, with Florida, Texas and several Mountain West states among the highest. The filing season also unfolded amid operational changes at the IRS, including a reported 27% workforce reduction, and with IRS chief Frank Bisignano testifying to Congress. Democrats have raised concerns over IRS disclosures of taxpayer data to immigration authorities. The White House is promoting the figures as evidence of tax relief ahead of the midterms, even as higher gas and grocery prices dampen household gains.

BRP Inc., the Quebec-based maker of Ski-Doo snowmobiles, Can‑Am off‑road vehicles and Sea‑Doo watercraft, on April 15 suspended its full‑year 2027 financial guidance after a U.S. change to Section 232 tariffs that took effect April 6. The presidential proclamation reclassifies finished goods “substantially” containing steel, aluminum or copper to a 25% levy on the full customs value rather than a duty on metal content only, a shift BRP estimates will cost more than C$500 million this year before mitigation. The announcement sent BRP shares tumbling about 35% on heavy volume, wiping billions off its market value and prompting analyst downgrades. BRP said roughly 60% of revenue is from the United States while most U.S. sales are manufactured in Mexico and Canada; the company has roughly C$430 million in cash on hand. Management is evaluating mitigation options — including inventory drawdown, pricing, and rerouting exports — but has not issued new guidance. Rivals and suppliers also moved in sympathy as markets recalibrated sector margins and cross‑border supply‑chain economics.