President Trump said he has narrowed his shortlist to “three or four” candidates to succeed Federal Reserve Chair Jerome Powell when Powell’s term ends in May 2026.
Speaking at a NATO summit press conference, Trump described Powell as “terrible” and said he was looking forward to the end of Powell’s tenure.
Though there has been speculation that Trump might remove Powell before his term expires, the former president has said he has “no intention” of firing him early. Still, Trump has continued to suggest that an early removal remains a possibility.
The two have clashed repeatedly over interest-rate policy. Powell has signaled that the Federal Reserve is likely to keep rates steady for the time being to guard against inflationary pressure, including potential effects from tariffs supported by Trump.