Powell’s Fed chair term ends 2026, Trump already seeking replacement: report

Federal Reserve Chairman Jerome Powell has faced great criticism from the Trump administration regarding the central bank’s position on maintaining fixed interest rates in recent months, and the president is said to consider a member of the Council of Ministers as a successor.

Powell remains less than a year in his term as head of fans, who is scheduled to end in May 2026. President Donald Trump, who nominated Powell for this role in 2017, indicated that he would not nominate the president for another period, and Powell recently gave the title “Al -Sayed after it is too late” amid his efforts to pressure the federal reserve points to cut interest rates.

Trump suggested that he could mention Khalaf Powell in the near future, before the end of the Powell state as a president, and has developed a short list of competitors in mind.

Bloomberg News stated that Treasury Scott Payette is one of the most prominent competitors of the role of the Federal Reserve Chairman, citing people familiar with the matter, although the perpetrator indicated that the administration did not start the official interviews.

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Bloomberg stated that the former federal reserve official Kevin Wrash, whom Trump considered in the role of the Treasury before choosing Bessent’s nomination, is also in the short list of the role of the Federal Reserve Chairman.

BESSENT witnessed before the House of Representatives Roads and means on Wednesday and was asked about the reports that link it to the role of the Federal Reserve Chairman and whether he preferred to have this role or the treasury minister remains.

Al -Amin said that his current role is “the best job” in the nation’s capital and that although he was “happy to do what President Trump wants to do,” he “wants to stay in my seat until 2029” to enhance the administration’s agenda until the end of the president’s term.

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Treasury Secretary Scott Beesen told the House of Representatives and the means that he hopes to remain in his role until 2029, although he would do what President Trump’s request. (Reuters/Nathan Howard/File)

Trump’s criticism of Federal Reserve Studies was a player in his first term, when he called Powell and other leaders of the Central Bank “Raoos” in 2019 to not reduce interest rates to “zero, or less” to re -financing the national debt and stimulate the economy.

Since his return to the White House for a second term as president earlier this year, Trump said, “Powell ending can not come quickly enough” and that the Federal Reserve Chair “is very late and a mistake.”

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The duration of the Federal Reserve Chairman, Jerome Powell, ends in May 2026. (Anna Moneymaker/Getty Images/File)

He also urged the Federal Reserve to move forward in “preventive discounts” in interest rates, which contributed to the sale in the sharp market in April amid uncertainty about commercial policy. Trump also described Powell as a “loser” in addition to “the master is too late.”

Trump later retracted his threat to the launch of Powell, and reported that “there is no intention to launch it.” After the Federal Reserve kept the fixed interest rates for the third consecutive meeting in May, Trump wrote that Powell “a fool, has no idea. Otherwise, I love him so much!”

Powell reiterated at press conferences in response to the journalists ’questions that he intends to present his mandate as a president, although he did not indicate whether he was planning to continue working as a ruler in the Federal Reserve as soon as his presidency ends.

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When asked if the president had the authority to end his presidency before his term ends, Powell said that he would not be allowed under the law.