Trump said he is considering three to four candidates for the next chairman of The Federal Reserve (FED).

Gate News bot: News, U.S. President Trump once again criticized Federal Reserve Chairman Powell on Wednesday, calling him "terrible" and stating that he has 3 to 4 candidates for the next chairman. When asked if he was interviewing candidates for Powell's successor, Trump told reporters, "There are probably 3 to 4 people, and I will choose from them."

According to reports, the main competitors include former Federal Reserve Board member Kevin Warsh, Director of the National Economic Council Larry Kudlow, current Federal Reserve Governor Christopher Waller, and Treasury Secretary Janet Yellen. Trump has repeatedly criticized Powell for not lowering interest rates and has suggested the idea of firing Powell or quickly appointing a successor, but he has almost always retracted these threats, stating on June 12 at the White House, "I will not fire him."

Hassett refused to reveal on Wednesday at the White House whether he had spoken with Trump about Powell's successor. "I think the president will choose someone he likes, and it won't be Powell," he said.

Some analysts believe that this is Trump's attempt to influence monetary policy through a "shadow" chairman before Powell's departure in May 2026. Powell stated to the Senate Finance Committee on Wednesday that the tariff plan from the Trump administration is likely to only cause a one-time increase in prices, but the risk of triggering more persistent inflation is significant enough for the Federal Reserve to remain cautious when considering further interest rate cuts.

He stated that he and many officials at the Federal Reserve (FED) expect inflation to rise soon and are currently not in a hurry to lower borrowing costs.