Quick overview

---

The head of the U.S. central bank said he could remain in a leadership role at the institution that sets interest rates if the investigation against him continues.

Donald Trump again threatened to dismiss Jerome Powell, chair of the Federal Reserve, if he decides to stay on the central bank’s board once his term expires next month.

During a television interview, Trump was reminded that Powell has indicated he may remain in his position while an investigation into him remains unresolved. “Well, then I’ll have to fire him?” Trump responded.

Powell has said he could continue serving as chair of the committee that sets U.S. interest rates after his current term ends if no successor is confirmed. He also suggested he might remain in the role longer if the investigation continues.

A new chapter in the clash between Trump and the Fed chair

Trump has spent months pushing to remove Powell as head of the Fed, arguing that the central bank has been too slow to cut interest rates in order to stimulate the U.S. economy.

The president nominated former Fed official Kevin Warsh to succeed Powell. However, Warsh’s confirmation has been delayed due to a Department of Justice investigation into remarks Powell made before the U.S. Senate Banking Committee in June regarding the renovation of the Fed’s headquarters.

Thom Tillis, a Republican senator from North Carolina, has said he will not vote to confirm any nominee until the investigation is resolved.