Trump says he has choices to succeed Powell as Fed Chair

US President Donald Trump said on Tuesday that he has two or three top choices to replace Jerome Powell as Chair of the Federal Reserve.

Trump’s remarks came to reporters aboard Air Force One as he returned to Washington D.C. from Florida after Powell declined to comment on the matter of his succession as Fed Chair.

During the panel discussion at the European Central Bank Forum on July 1, Powell responded to Trump’s criticism by saying, “I’m very focused on just doing my job”, prompting loud applause from the audience.

When asked if he would remain a member of the Fed’s Board of Governors after his term as Chair ends next May, Powell said: “ I have nothing to say today.”

Since his term as a member of the Board of Governors does not end until 2028, he can remain on the board until then. Earlier this year, Governor Michael Barr stepped down as Vice Chair for Supervision but continued to serve the board.

Trump threatened to fire Powell before his term ends next May. Although he later walked back those remarks, the Fed Chair has not been spared from Trump’s sharp criticism, including direct insults.