U.S. President Donald Trump said of Jerome Powell, the chair of the Federal Reserve (Fed), who is under investigation by U.S. federal prosecutors, "I hope he steps down soon."
According to CNBC and other U.S. media, on the 13th (local time) at a visit to Ford's plant in Detroit, Michigan, Trump told reporters, "He either doesn't know what he's doing, or it's worse than that," adding the remark. Powell's term runs through May.
Trump has repeatedly criticized Powell for the Fed not cutting the benchmark interest rate as much as expected. Recently, the U.S. Department of Justice launched an investigation into Powell over a roughly $2.5 billion renovation project for the Fed's headquarters, increasing pressure on him to resign.
Regarding the Fed headquarters project that triggered the probe, Trump said, "They're undertaking the most expensive construction in history to renovate a small building," adding, "I could have done it for $25 million, and they're spending billions of dollars."
Earlier, speaking to reporters outside the White House, he criticized Powell as "incompetent or corrupt," saying, "I don't know what kind of person he is, but he certainly hasn't done a good job."
At the Ford plant the same day, Trump said he would announce Powell's successor "within a few weeks." He has repeatedly said he plans to nominate Powell's successor this month.