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On April 15th, President Donald Trump once again threatened to fire Federal Reserve Chair Jerome Powell and stated that investigations related to the renovation project of the Federal Reserve headquarters need to continue.
President Trump said that if Powell remains a Federal Reserve Board member after his successor is confirmed, he will exercise his dismissal authority. "By then, I will have to fire him," the president said in an interview with Fox Business, "if he doesn't leave on time. I have been restrained from firing him before; I have thought about doing so, but I didn't want to cause controversy. I want to stay low profile."
Powell's term as Federal Reserve Chair will end on May 15, and President Trump has nominated former Fed director Kevin Warsh as his successor.
Although Powell's chairmanship is about to expire, he still has two years remaining on his term as a board member. While most previous Fed chairs tend to leave the central bank after being replaced, Powell has avoided making clear statements about his personal plans when asked.