President Donald Trump has never had a shortage of targets for his ire.
From the establishment media, to #NeverTrump Democrats, to even within his own MAGA inner circle, Trump has little issue calling out those who may impede or impugn his work for the American people.
That list also includes the 16th chair of the U.S. Federal Reserve, Jerome Powell.
While Powell has not been nearly as antagonistic toward Trump as some of the other names on that ire list, he has nonetheless been one of the more understated thorns in the president’s side.
And it all has to do with the Federal Reserve’s insistence on not slashing interest rates.
According to The Wall Street Journal, Trump’s “exasperation over the Federal Reserve’s take-it-slow approach to cutting interest rates” could lead him to pull an odd move.
“In recent weeks, the president has toyed with the idea of selecting and announcing Powell’s replacement by September or October, according to people familiar with the matter,” the Journal reported. “One of these people said the president’s ire toward Powell could prompt an even-earlier announcement sometime this summer.”
The outlet added: “Because the new chair wouldn’t take office until next May, announcing the pick this summer or fall would be far earlier than the traditional three-to-four month transition period.
“An early announcement could allow the chair-in-waiting to influence investor expectations about the likely path for rates, like a backseat driver, attempting to steer monetary policy before Powell’s term ends.”
Should Trump name his new Federal Reserve pick early?
Politico reported that Trump already has “three or four potential replacements” for Powell.
That list potentially includes former Fed governor Kevin Warsh and National Economic Council director Kevin Hassett.
Treasury Secretary Scott Bessent, World Bank President David Malpass, and Fed governor Christopher Waller are also reportedly in consideration, according to the Journal.
When asked about this unusual move, the White House neither denied nor confirmed the report, but did offer a gentle nudge for the Federal Reserve.
“The Administration is now laying the groundwork — including with The One, Big, Beautiful Bill — to turbocharge economic, job, and investment growth, and it’s high time for monetary policy to complement this agenda and support America’s economic resurgence,” White House representative Kush Desai said.
Of note, Politico added that Trump — despite past considerations — is not interested in firing Powell.
“He goes out pretty soon, fortunately, because I think he’s terrible,” Trump said Wednesday.
But is “pretty soon” not good enough for the president?
Despite this latest report, Trump did note in a June 20 Truth Social post that firing Powell may be the most prudent course of action.
Donald J. Trump Truth Social 06.20.25 05:58 PM EST pic.twitter.com/NEuKEZCfO3
— MAGA Resource (@MAGAResource) June 21, 2025
“‘Too Late’ Powell complains about costs, much of which were produced by the Biden Fake ‘Government,’ but he could do the biggest and best job for our Country by helping to lower Interest Rates and, if he reduced them to the number they should be, 1% to 2%, that ‘numbskull’ would be saving the United States of America up to $1 Trillion Dollars per year,” Trump posted.
“I don’t know why the Board doesn’t override this Total and Complete Moron!” he added. “Maybe, just maybe, I’ll have to change my mind about firing him? But regardless, his Term ends shortly!”
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