The president said he will reveal his choice for the next Federal Reserve chair next week, fueling uncertainty over Jerome Powell’s future amid mounting criticism of monetary policy.

By yourNEWS Media Newsroom

President Donald Trump said Thursday that he plans to announce his selection for the next chairman of the Federal Reserve next week, a statement that comes amid renewed public criticism of current Fed Chair Jerome Powell and lingering questions about whether Powell will be replaced before his term expires.

“We are going to be announcing the head of the Fed, who that will be,” Trump said, according to remarks reported earlier in the day, adding that the announcement would come “sometime next week.”

Trump’s comments followed sharp criticism of Powell over the Federal Reserve’s reluctance to lower interest rates despite recent data showing subdued inflation. The president has repeatedly argued that monetary policy remains too restrictive and is slowing economic growth unnecessarily.

It remains unclear whether Trump intends to remove Powell before the end of his term or simply name a successor to take over when Powell’s tenure concludes in 2028. Powell has resisted calls to step aside and has continued to defend the Fed’s current policy stance.

Complicating the situation is an ongoing criminal investigation opened by the Department of Justice into Powell’s handling of the Federal Reserve’s headquarters renovation project, an issue that has added further pressure to an already contentious relationship between the White House and the central bank.

Speculation over a potential replacement has circulated for months. Treasury Secretary Scott Bessent and National Economic Council Director Kevin Hassett have each been viewed at various points as leading contenders for the position, though no formal confirmation has been made.

Trump’s announcement has heightened attention on the Federal Reserve at a time when interest rate policy remains central to debates over economic growth, inflation control and the administration’s broader economic agenda.