US government confirms no plan to remove Fed Chair Powell despite ongoing investigation
The US government confirmed no immediate plan to remove Fed Chair Powell despite a DOJ investigation into Fed headquarters cost overruns.Summary
US President Donald Trump stated he has no immediate plans to dismiss Federal Reserve Chair Jerome Powell, even as the Justice Department conducts a criminal investigation into cost overruns related to a $2.5 billion renovation project at the Fed headquarters. Powell has alleged the probe is a tactic to influence the central bank's policy decisions and has denied any wrongdoing. Trump indicated that Powell's situation remains under review, though his term as Chair expires in May 2026. Furthermore, Trump mentioned he is considering Kevin Warsh or Kevin Hassett as potential successors, while rejecting concerns that attacking the Fed's independence could harm the economy or the dollar, asserting presidents should have a role in monetary policy.
(Source：Crypto Briefing)