US President Donald Trump stated he is considering three or four potential replacements for Federal Reserve Chairman Jerome Powell, whose term as chair ends in May 2026. Despite repeatedly calling on the Fed to cut borrowing costs, Trump said he has “no intention” of firing Powell before his term ends. However, Trump’s relationship with Powell remains strained, particularly over interest rates and tariffs. The Supreme Court previously determined that the president’s ability to remove Fed chiefs differs from other independent agencies, suggesting Powell’s position is secure until the end of his term.
Source: https://www.politico.com/news/2025/06/25/trump-powell-fed-chair-interest-rates-00423423