Trump has grown increasingly vocal in his criticism of the Fed's decisions — notably in March, when the US central bank held interest rates steady. The president wrote on his Truth Social platform that the Fed would be "MUCH better off CUTTING RATES." Trump also moved against other senior Fed figures, including Governor Lisa Cook, whom he sought to remove over unrelated allegations. By midyear, US media outlets reported that Treasury Secretary Scott Bessent had emerged as a front-runner to replace Powell when his term ends in May. More recently, US media outlets have focused on four candidates: longtime Trump loyalist Kevin Hassett, former Fed Governor Kevin Warsh, current Fed Governor Christopher Waller and BlackRock executive Rick Rieder.

Source: The Telegraph January 13, 2026 09:16 UTC