Trump Says Jerome Powell Is ‘Terrible,’ Reveals He Has ‘3 Or 4’ Candidates In Mind For Fed Chair’s Job

President Donald Trump on Wednesday expressed his disdain for Federal Reserve Chair Jerome Powell, berating him in public again amid an ongoing disagreement over interest rates.

President Trump also revealed that he is considering a few candidates to replace Powell as the next Federal Reserve Chair.

“I know within three or four people,” said President Trump while addressing reporters during a press conference in The Hague, according to Bloomberg.

“I mean he goes out pretty soon, fortunately, because I think he’s terrible.”

President Trump attended the NATO summit to approve an increase in defense expenditure by allies to 5% of their respective gross domestic product (GDP).

Trump’s latest criticism of Powell comes after the Fed Chair questioned who would pay for the President’s tariff policies, implying that inflation would heat up eventually.

“The question is, who’s going to pay for the tariffs? How much of it does show up in inflation? And honestly, it’s very hard to predict that in advance,” he said.

Powell was delivering a biannual testimony to Congress, addressing questions about the central bank’s monetary policies.

Earlier this month, a media report suggested that Treasury Secretary Scott Bessent emerged as a top contender to succeed Powell after President Trump said he would nominate a successor “very soon.”

Another contender is Kevin Warsh, a former Fed official whom President Trump interviewed for the Treasury Secretary position.

Powell’s term as Fed Chair ends in May 2026. He has been the Treasury chief since 2017, after President Trump's nomination during his previous term.

Despite Powell being his pick, Trump has repeatedly called out the Fed Chair during his current term for not lowering interest rates.

“‘Too Late’” at the Fed is a disaster! Europe has had 10 rate cuts; we have had none. Despite him, our Country is doing great. Go for a full point, Rocket Fuel!” Trump said in a post on Truth Social earlier this month.

Meanwhile, U.S. equities edged lower on Wednesday despite positive developments at the NATO summit.

At the time of writing, the SPDR S&P 500 ETF (SPY), which tracks the S&P 500 index, was down 0.06%, while the Invesco QQQ Trust (QQQ) gained 0.06%. Stocktwits data shows retail sentiment around the S&P 500 ETF has been in the ‘extremely bearish’ territory over the past week.

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