Trump and Powell at the Federal Reserve building renovation site last July [AFP Yonhap News]

U.S. President Donald Trump on April 15 (local time) threatened to fire Jerome Powell, chairman of the U.S. central bank, the Federal Reserve (Fed), if he does not step down from his role as Fed governor after his term as chairman ends next month.

In an interview with Fox Business that aired on the same day, conducted at the White House the previous day, Trump said, "If he doesn't step down, then I'd have to fire him."

He added, "I've been holding back on firing. I wanted to fire him, but I didn't want to cause controversy."

Since taking office for his second term, Trump has repeatedly urged Fed Chairman Powell to lower the benchmark interest rate, and has continuously threatened to dismiss him when the Fed did not meet his expectations.

Powell's term as chairman expires on the 15th of next month. Typically, the Fed chairman leaves the Fed upon the expiration of their term.

However, Powell still has a term as a Fed governor until January 2028 and has stated he will not leave the Fed until his term as governor expires if investigations by federal prosecutors into allegations of excessive spending on Fed building renovations are not concluded.

Trump nominated former Fed Governor Kevin Warsh as Powell's successor, but his confirmation is uncertain at the Senate Banking Committee hearing scheduled for the 21st.

This is because Republican Senator Tom Tillis of North Carolina, a member of the Banking Committee, is maintaining his position of opposing the confirmation of candidate Warsh until the investigation into Chairman Powell is suspended.

The Banking Committee is composed of 13 Republicans and 11 Democrats, making it highly likely that the confirmation bill will not pass the committee's hurdle if even one Republican senator opposes it.

However, when asked in the interview if he thought candidate Warsh could receive Senate confirmation next week, Trump replied, "Yes. I hope so."

He then added, "Senator Tillis is an American. He knows what he's doing. Let's see what happens."

He also claimed that the investigation into Chairman Powell is "more than just a criminal investigation. It's also an investigation into incompetence," and reiterated his resolve to continue the investigation, stating, "Whether it's due to incompetence, corruption, or both, I think it needs to be uncovered."

When asked if he thought the benchmark interest rate would be lowered by the end of the year, Trump replied, "I think it will be if Kevin takes over."