ISTANBUL

Jerome Powell, chairman of the US Federal Reserve, said on Wednesday that he has “no intention” of leaving the Fed Board of Governors until an investigation into him has been duly concluded.

"I have no intention of leaving the board until the investigation is well and truly over with transparency and finality," Powell told reporters in Washington, specifically addressing his tenure at the Fed after his time as chair ends, set for this May.

Last year, federal prosecutors in Washington opened a criminal investigation into Powell concerning a renovation of the Fed’s headquarters and possible misleading statements to Congress about the scope and cost of the project.

Powell has denied the allegations and called the probe politically motivated.

Demanding lower interest rates, US President Donald Trump has also continually attacked Powell and other Fed officials for not slashing rates.

Trump announced in January that he picked Kevin Warsh, a former member of the Federal Reserve Board of Governors, as his nominee for the next Fed chair.

After the Fed decided Wednesday to hold interest rates steady, Powell also told reporters that he would stay on as Fed chair pro tem if Warsh is not confirmed by the time his own term as chair ends.