Trump Slams Fed Chair Again, Says He Made Need to ‘Force Something’ [WATCH]

President Donald Trump is reportedly weighing the possibility of naming a successor to Federal Reserve Chair Jerome Powell before Powell’s current term expires in May 2026.

The potential shake-up comes amid continued criticism from the Trump administration over the Fed’s recent decision to hold interest rates steady.

Trump, who appointed Powell to the position in 2017 during his first term, has recently expressed dissatisfaction with the Fed chair’s performance and has suggested he will not re-nominate him for another term.

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According to reports, the president has developed a list of potential successors, with several names under serious consideration.

Treasury Secretary Scott Bessent is among the top candidates being considered to lead the central bank, according to a report by Bloomberg News, which cited sources familiar with internal discussions.

The report also named Kevin Warsh, a former Fed official who was previously considered for the Treasury role before Bessent’s nomination, as another leading contender.

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While no formal interviews have taken place yet, the administration is expected to continue evaluating candidates ahead of any official announcement.

Trump has indicated that he may move forward with selecting a new Fed chair well before Powell’s term expires.

Bessent addressed the speculation during a House Ways and Means Committee hearing on Wednesday.

When asked about the reports connecting him to the Fed chairmanship, Bessent responded by saying, “This is the best job in Washington, D.C.”

He added, “I’m happy to do what President Trump wants me to do,” but stated he would like to remain in his current role as Treasury Secretary “through 2029” to help carry out the administration’s economic agenda.

Trump’s criticism of Powell dates back to his first term in office.

In 2019, he referred to Powell and other Federal Reserve leaders as “boneheads” for not lowering interest rates to “ZERO, or less,” arguing that such a move would have allowed the U.S. to refinance its national debt more favorably and stimulate economic growth.

Since returning to the White House earlier this year, Trump has renewed his criticism of Powell.

In April, following a sharp market downturn tied to trade uncertainty and interest rate concerns, Trump called Powell “Mr. Too Late” and a “loser.”

He also urged the Federal Reserve to adopt “preemptive cuts” to interest rates.

“Powell’s termination cannot come fast enough,” Trump said in one statement, accusing the Fed chair of being “always TOO LATE AND WRONG.”

Reporter: “You said the termination of Jerome Powell cannot come fast enough. He says he won’t leave even if you ask him to.”@POTUS: “Oh he’ll leave. If I ask him to, he’ll be out of there. I don’t think he’s doing the job. He’s always too late, a little slow.” pic.twitter.com/UdG3zhBukX

— Rapid Response 47 (@RapidResponse47) April 17, 2025

While the president later clarified that he had “no intention of firing him,” his social media posts and public remarks continued to reflect his frustration with Powell.

After the central bank opted to maintain current interest rates for the third consecutive meeting in May, Trump referred to Powell as a “FOOL, who doesn’t have a clue. Other than that, I like him very much!”

TRUMP: Jerome Powell is a fool who doesn’t have a clue – other than that, I like him very much! pic.twitter.com/8AcRpMsK57

— Eric Daugherty (@EricLDaugh) May 8, 2025

In public remarks following those decisions, Powell has said that he plans to serve out his term as chair.

However, he has not indicated whether he intends to remain at the Federal Reserve as a governor once his tenure as chair concludes.

When asked whether the president has the legal authority to remove him as Fed chair before the end of his term, Powell stated that such an action would not be permitted under existing law.

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