John Tucker

And good morning, Lisa.

The Trump Justice Department's investigation of the Fed, the president's personal attacks on Chairman Jerome Powell, have stoked expectations that Powell will stay on the board of governors after his term as chair ends in May.

It's far from clear how the legal process is going to play out and what decision Powell will ultimately make on his future term.

Those who know Powell say if he does stay on, he would only do so to protect the institution and would have no interest in playing a role as a shadow Fed chair.

But if the legal development does provoke Powell to stay, it would upend President Trump's stated plans to stack the board with officials who will bend to his will.

It could also create a powerful counterweight inside the Fed to whomever President Trump picks as the next Fed chair.

In New York, I'm John Tucker, Bloomberg Radio.

And Nathan, President Trump now insists he does not plan to fire Federal Reserve Chair Jerome Powell.

This was an interview with Reuters.

Trump said, quote, I don't have any plan to do that.

Still, the president said he had not arrived at conclusion about whether his Justice Department probe of the Fed would give him grounds to oust the Fed chair, saying it's too early to say.

The pushback over the probe has been fierce.

Republican Senator Tom Tillis sat down with Bloomberg's balance of power, repeating his concern that DOJ's criminal probe threatens Fed independence.

Tillis has said he would block Fed nominations until the investigation is resolved.

In response to Republican lawmakers like Tillis who are criticizing the Fed investigation, President Trump responded, I don't care, and quote, they should be loyal.

In New York, I'm John Tucker, Bloomberg Radio.

And Nathan, President Trump had this to say about Powell as he left the White House yesterday.

And Trump doesn't seem too concerned with pushback from lawmakers like Republican Tom Tillis, who vowed to oppose any Trump nominees to the Fed after the central bank was subpoenaed.

Trump said he would announce his nomination to replace Federal Reserve Chair Powell within the next few weeks, despite all the backlash.

The president also dismissed Jamie Dimon's criticism over the Justice Department probe of the Fed.