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Trump says he has no plan to fire US Fed chief Jerome Powell despite investigation

Trump versus Fed: Trump administration recently opened a criminal investigation into Powell over cost overruns for a $2.5 billion project to renovate two historical buildings at its headquarters complex. Powell, who disclosed the probe on Sunday, denies wrongdoing, and said the unprecedented actions are a pretext to put pressure on Powell for not satisfying Trump's long-running demands for sharply lower interest rates.

15 Jan 2026 6:49 am