Jerome Powell, head of the U.S. Federal Reserve, said on Sunday the Justice Department has opened a criminal investigation against him for allegedly misleading Congress about a building renovation project at the central bank’s headquarters.

On Wednesday, President Donald Trump stated that his search for a successor to Federal Reserve Chair Jerome Powell is almost complete and intimated that he has a candidate in mind.

President Donald Trump suggested that Jerome Powell would not enjoy his tenure if he stayed on the Federal Reserve’s Board of Governors after his term as chair expired, in the latest broadside against the central bank chief.

U.S. President Donald Trump on Wednesday ​indicated he was close to choosing the new chair of the Federal Reserve, adding he liked the idea ‌of keeping White House economic adviser Kevin Hassett in his current post.