President Donald Trump examines his criticism of the Federal Reserve chairman Jerome Powell as he asks questions about NATO -TOP
President Donald Trump accelerates his urge to a new chairman of the Federal Reserve that is more closely related to his economic policy.
The tensions between FED chairman Jerome Powell and Trump are intensified on the interest rate decisions of the central bank and a broader monetary strategy. Trump has placed the debt entirely on Powell for not reducing rates, which he says the nation has cost “hundreds of billions of dollars”.
Trump calls for FED chairman Jerome Powell to resign immediately
The chairman of the Federal Reserve Jerome Powell testifies to a hearing of Senate Banking, Housing and Urban Affairs about Capitol Hill on 11 February 2025. (Craig Hudson / Reuters)
After a career in investment banking, Powell was appointed as the Federal Reserve by former President Barack Obama before Trump nominated him to his current role as FED chairman.
Last week Trump revealed that he is evaluating “three or four” candidates to succeed Powell, whose term ends in May 2026.
There is a glance at who could possibly replace Powell.
Treasury Secretary Scott Bessent
Treasury Secretary Scott Bessent watches, while President Donald Trump signs performing orders in the OVAL Office of the White House on April 9, 2025. (Anna Moneymaker / Getty images)
“We have many great candidates for the Federal Reserve. I think I have the best job in Washington. I can communicate with the president. The cabinet he has chosen is fantastic, and being part of that cabinet is the dream of a life for me,” Bessent said on it “Mins with Maria.”
Trump Eyes Cabinet Member to replace Jerome Powell with the FED
“But I will go where the president thinks I’m the most suitable,” he added.
Bessent, a former chief of the hedge fund, soon proved that he could take deals on behalf of Trump. Earlier this year, he joined the American trade representative Jamieson Greer in Switzerland to find a soft landing in the midst of Handen Haken with China.
Director of the National Economic Council Kevin Hassett
Kevin Hassett, director of the National Economic Council, speaks to members of the media after a meeting with legislators in Capitol, USA on 28 April 2025. (Stefani Reynolds / Bloomberg via / getty images)
Kevin Hassett is currently the director of the National Economic Council of the White House and has been a loyal defender of Trump’s economic agenda. During the first Trump administration, Hassett served as the best economist in the president, charged with navigating tax policy and trade fights.
Hassett told reporters earlier this year that Trump will “continue to study” options about removing Powell from the FED post.
Federal Reserve Vice -chairman Michelle Bowman
Michelle Bowman, vice -chairman for supervision in the Federal Reserve, arrives on 6 June 2025 for an event at Georgetown University in Washington, DC. (Graeme Sloan / Bloomberg via / getty images)
Michelle Bowman currently acts as vice chairman of the Federal Reserve for supervision, a role that places her at the helm of the regulatory agenda of the FED and supervision of the most powerful banks of the nation. The position adjusts closely in the priorities of Trump, in particular his focus on reducing waste, fraud and legal costs.
Bowman recently broke with Powell and called for a reduction in rates.
If it is applied and confirmed by the congress, Bowman would be the second woman to chair the central bank. Janet Yellen was the first woman to play the role.
Former Federal Reserve Board Governor Kevin Warssh
Kevin Warssh, former Governor of the Federal Reserve, during the International Monetary Fund and the spring meetings of the World Bank in Washington, DC, on April 25, 2025. (Tierney Cross / Bloomberg via / getty images)
Kevin Warssh was one of the leading candidates to replace Yellen in 2018, before Trump finally appointed Powell. More recently, Warssh has also been considered a competition for Minister of Finance in the second Trump government.
Trump Slams Fed Chairman Powell for not lowering rates: ‘Average mental person’
In 2006, the former banker of Morgan Stanley became the youngest person who became a member of the Fed Board. Although he resigned in 2011, Warssh was general recognized as the most important contact person from the FED to Wall Street during the 2008 financial crisis. He also served as economic adviser to President George W. Bush.
Governor of the Federal Reserve Christopher Waller
Christopher Waller, considered the veteran -academic of the group, was tapped by Trump to join the Fed Board in 2020. Waller has said earlier that he was in favor of reducing the rates to prevent a negative effect on the labor market in the country.
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Just like Bowman, Waller has largely voted with Powell. He repeated the importance of maintaining an independent Federal Reserve.
