Trump signals DOJ should continue Powell probe, complicating Warsh Fed nom

President Donald Trump on Thursday signaled his continued support for a Department of Justice investigation into Federal Reserve Chairman Jerome Powell — a stance that could further delay the confirmation of his would-be successor, Kevin Warsh.

“He’s under investigation because he’s building a building for hundreds of billions of dollars more than it’s supposed to cost,” Trump said of Powell in the Oval Office.

He was referring to ongoing renovations of the Fed’s headquarters in Washington, the purported focus of the federal probe of the central bank chairman. Powell has accused the government of launching the investigation in retaliation for his refusal to lower interest rates as much or as quickly as Trump has demanded.

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