Trump called Powell "incompetent" or "dishonest"

The investigation by the US Department of Justice into the renovation project of the Federal Reserve headquarters in Washington has sparked opposition, with Trump criticizing Fed Chairman Powell as "either incompetent or dishonest." Trump, who left the White House on Tuesday to give an economic speech in Detroit, told reporters before leaving, "The renovation of the Federal Reserve headquarters is overspending by billions of dollars, so Powell is either incompetent or dishonest. I'm not sure which one he is, but he's doing a terrible job." This investigation marks a sharp escalation of the Trump administration's criticism of the Fed and raises new questions about the Fed's independence. Trump has previously repeatedly threatened to fire Chairman Powell before his term ends in May, and now he is considering who to nominate as his successor. However, the US Department of Justice revealed last weekend that it has launched a criminal investigation into the renovation project, which has been opposed by Republican senators. This situation may prevent Trump's nominee for the next Fed chairman, thus undermining his efforts to control the Fed.