The president told NBC News in an exclusive interview that he would not have tapped Kevin Warsh to be the next Fed chair if he did not support cutting interest rates.

A top Senate Republican has said Fed chair Jay Powell has not “committed a crime”, in a strong rebuke of the Trump administration’s probe into the central bank chief from a senior member of the president’s own party.

Sen. Tim Scott Rejects Allegations Against Fed Chair Powell

Presidents have tried to make their mark on the economy through the selection of Federal Reserve chairs before, but this time is different.

Trump has urged the Fed to significantly lower interest rates.