Fed Chair Powell Responds to Trump: No Intention to Resign Before Investigation Concludes

Odaily According to reports, U.S. President Donald Trump stated that he would dismiss Federal Reserve Chair Jerome Powell if Powell remains in his position after his term expires. Powell's term as Chair is scheduled to end on May 15th. In an interview, Trump said, "If he doesn't leave, then I'll have to fire him." It is reported that Kevin Warsh, Trump's nominee to succeed Powell, has not yet been confirmed by the Senate. This means Powell may continue to serve in an "acting Chair" capacity during the transition period. Powell has previously stated that he will legally remain in his position if his successor is not confirmed. Additionally, the U.S. Department of Justice is currently investigating the renovation project at the Federal Reserve headquarters. Trump has repeatedly criticized Powell for not cutting interest rates as he desired and has questioned the costs of the related projects, suggesting there "may be corruption or serious mismanagement."

Powell responded by stating he has no intention of resigning before the investigation concludes, emphasizing that he will fulfill his duties until the investigation is "completely finished and a transparent conclusion is reached." (CCTV News)