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.

Trump is reportedly considering Treasury Secretary Scott Bessent among top contenders to replace Fed Chair Jerome Powell, who he has criticized over interest rates.

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.

The dollar fell and US Treasuries rallied after a report that President Donald Trump is considering naming Federal Reserve Chair Jerome Powell’s successor well before the incumbent’s term is scheduled to end next May.

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.

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, 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

Two of President Donald Trump's contenders to succeed Federal Reserve Chair Jerome Powell are increasing their alignment with the president in hopes to secure the nomination.