Trump to announce Fed Chair pick earlier than planned: Report

US President Donald Trump is planning to accelerate the timeline for announcing his pick to replace Federal Reserve Chair Jerome Powell, due to frustration over the central bank’s stance on interest rates, the Wall Street Journal reported, citing people familiar with the matter.

Two sources told the newspaper that Trump had originally considered unveiling his nominee by September or October, but growing dissatisfaction with the Fed’s current policy could prompt him to move up the announcement to sometime this summer.

According to the report, Trump is weighing several candidates, including former Fed governor Kevin Warsh and former National Economic Council director Kevin Hassett.

Other potential names being floated include Treasury official Scott Bessent, former World Bank President David Malpass, and current Fed governor Christopher Waller.

The next Fed chair would not assume office until May, meaning a summer announcement would come well ahead of the traditional three- to four-month transition period.

Trump has repeatedly criticized Powell for not cutting interest rates, and the Fed chair’s recent testimony before Congress indicated a continued wait-and-see approach to monetary policy, especially as the economic impact of Trump’s previously imposed tariffs remains uncertain.