Trump Narrows Fed Chair Candidates Amid Powell Criticism

Trump Considers Fed Chair Candidates Amidst Powell's Criticism

President Trump has indicated he's actively considering replacements for Federal Reserve Chairman Jerome Powell, stating that he has narrowed the field to three or four candidates.

Trump's Stance on Powell

This consideration follows a period of intensifying pressure from Trump for rate cuts, fueled by his dissatisfaction with Powell's cautious monetary policy.

Trump's remarks raise questions about his intentions regarding Powell's future, specifically whether he intends to fire him or undermine his authority for the remainder of his term. Powell has stated his intention to serve out his term, which ends in May 2026.

"He goes out pretty soon, fortunately, because I think he's terrible," Trump said on Wednesday.

Powell's Testimony Before Congress

The comments from the president came during a press conference in the Netherlands while Powell testified before Congress in Washington.

Powell told lawmakers that the central bank is "well-positioned to wait" on any interest rate adjustments until it has more clarity on how Trump's tariffs will affect inflation and the direction of the U.S. economy.