Trump: Although investigating Powell, there are no plans to directly remove him

On Wednesday, Trump stated that despite the Department of Justice investigating the Federal Reserve's renovation project, he currently has no plans to directly remove Federal Reserve Chairman Jerome Powell. This statement somewhat clarifies the recent speculation surrounding changes in the Federal Reserve's leadership, but Trump still insists that the president should have a say in central bank policy and continues to advance the selection of a successor. According to Reuters, during an exclusive interview at the White House, Trump was asked if he would replace Powell, to which he responded: “I have no plans to do that.” However, he also pointed out that he is currently in a "wait-and-see mode" regarding whether to use the investigation results as grounds for removal, stating that it is still "too early to tell." Trump reiterated that due to his profitable business dealings, he understands the economy better than "the late-to-the-game Powell." This statement comes at a time when the relationship between the Trump administration and the Federal Reserve is increasingly tense. Powell recently revealed that the Federal Reserve has received a subpoena from a grand jury regarding an investigation into a renovation project and related testimony. In response, Trump insisted that although some Republican senators are concerned that the DOJ investigation may interfere with interest rate decisions, he does not care and emphasized that Republicans "should be loyal." Meanwhile, Trump is accelerating the search for Powell's successor, whose term ends in May, and has specifically praised White House economic advisor Kevin Hassett and former Federal Reserve Governor Kevin Warsh. He stated that he would announce a decision in the "coming weeks." Pressure and Independence Struggle Under federal law, Federal Reserve governors can only be removed for "just cause," not due to policy disagreements. The investigation into the Federal Reserve's renovation project has sparked a new round of concerns about the central bank's independence. In a statement on Sunday, Powell referred to the investigation as an excuse for a pressure campaign against interest rate policy, emphasizing that the core issue is whether the Federal Reserve can continue to set rates based on evidence and economic conditions, rather than being subject to "political pressure or intimidation." Despite retiring Republican Senator Thom Tillis from the Senate Banking Committee threatening to block the confirmation of Federal Reserve nominations until the investigation is resolved, Trump stated that he would continue to push forward with the nomination plans. When faced with questions from within the Republican Party about the motives behind the investigation, Trump bluntly stated in the interview: “I don’t care. There’s nothing to say.” Regarding the successor issue, Trump does not hide his preference for specific candidates. He mentioned in the interview: “Both Kevins are outstanding.” Referring to Kevin Hassett and Kevin Warsh. Trump added that while there are other excellent candidates, he will formally announce his decision soon. When discussing the upcoming midterm elections, Trump expressed optimism about the Republican Party's prospects but also acknowledged that historical patterns are unfavorable for the ruling party. He pointed out that over the past 65 years, only a few presidents have been able to win in midterm elections. He described this historical trend as a difficult-to-break "lock," suggesting that even successful presidents during their terms are not immune to it