Trump Eyes Early Fed Chair Pick Amid Powell Feud

The president signals he may announce Jerome Powell’s successor this summer - nearly a year early.

Federal Reserve Chair Jerome Powell, via X

President Trump is preparing to name his pick for the next Federal Reserve chair well before Jerome Powell’s term ends in May 2026.

Frustrated by the Fed’s reluctance to cut interest rates, Trump told reporters he has narrowed his choice to “three or four people” and may announce the successor by September, or even earlier this summer. (WSJ)

The Strategy Behind an Early Announcement

Naming a successor early could allow the “chair-in-waiting” to shape market expectations and pressure Powell into easing rates in the months ahead. (WSJ)

Despite picking Powell himself in 2018, Trump now calls him a “Dumb Guy” and a “numbskull,” blaming him for unnecessarily high interest payments on federal debt. (USA Today)

Trump's Rate Cut Agenda

The president wants the Fed’s benchmark rate slashed from its current 4.25–4.5% to around 2.25%, arguing it would save the government $900 billion annually and help fuel economic growth. (USA Today)

But Powell has urged caution, warning that Trump’s import tariffs could still reignite inflation. “If we make a mistake here, people will pay the cost for a long time,” Powell told Congress this week. “We’re going to take a careful approach.” (WSJ)

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Inside the Power Play: Who Might Replace Powell, and Why It Matters

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