Trump considering replacing Fed chair Jerome Powell by fall – WSJ

U.S. President Donald Trump is considering replacing Federal Reserve Chair Jerome Powell as early as September or October, according to sources familiar with the matter.

According to one of the sources, Trump’s growing frustration with Powell could even prompt an earlier announcement—potentially this summer, Caliber.Az reports, citing The Wall Street Journal.

The leading contenders to replace Powell include former Fed Governor Kevin Warsh and National Economic Council Director Kevin Hassett, according to WSJ.

Other potential candidates being discussed are Treasury Secretary Scott Bessent, former World Bank President David Malpass, and current Fed Governor Christopher Waller.

Trump has repeatedly criticised Powell’s performance, describing him as “always late and wrong,” and has previously threatened to remove him from office. Discussions about Powell’s early dismissal reportedly took place over several months between Trump and Warsh. However, Warsh is said to have advised the president against removing Powell before the end of his term.

Powell’s tenure as Fed Chair is scheduled to end in May 2026.

By Khagan Isayev