President Donald Trump has threatened to fire Federal Reserve Chair Jerome Powell if he does not leave office at the end of his term in May, escalating an ongoing dispute over interest rate policy.

Trump has repeatedly criticized Powell for not cutting interest rates and has also accused him of mismanaging a Federal Reserve building renovation project.

Powell’s term ends on May 15, but he has said he may remain in office temporarily until a successor is confirmed.

The potential nomination of Kevin Warsh has become politically complicated, with some Republican senators linking it to demands for a criminal investigation into Powell’s actions, the BBC has reported.

The standoff has added uncertainty around Federal Reserve leadership and contributed to market concerns over political pressure on the central bank.