Two top contenders to replace Jerome Powell slammed the Fed chair for a $2.5 billion renovation of the central bank’s headquarters, with one saying the Trump administration is examining whether it can fire the policymaker and the other saying the Fed has 'lost its way.

WASHINGTON] US Treasury Secretary Scott Bessent suggested that Federal Reserve chair Jerome Powell should step down from the central bank’s board when his term as chair is up in May 2026. Read more at The Business Times.

President Trump’s exasperation over the Federal Reserve’s take-it-slow approach to cutting interest rates is prompting him to consider accelerating when he will announce his pick to succeed Chair Jerome Powell, whose term runs for another 11 months.

President Trump plans to name a successor to Jerome Powell, who ends his term as Fed chair in May 2026. Two contenders have emerged as the next US Fed chief after Powell.

Kevin Hassett, Trump’s longest-serving economic adviser, is a leading contender to become the next Federal Reserve chairman, a position with significant influence over interest rates and the U.S. econ

Trump discusses plans to replace Federal Reserve Chairman Powell in a FOX Business interview, criticizing high interest rates as the U.S. faces refinancing $9 trillion in debt.

But Bessent – who is leading Trump’s effort to kick-start the U.S. economy with sweeping changes to trade, taxes and regulation – is also one of the contenders for the job, said the people ...

US Treasury Secretary Scott Bessent suggested that Federal Reserve Chair Jerome Powell should step down from the central bank’s board when his term as chair is up in May 2026.

Kevin Hassett, President Donald Trump’s longest-serving economic adviser, is a leading contender to become the next Federal Reserve chairman, a position with significant influence over interest rates and the US economy.