US President Trump said at a cabinet meeting held at the White House on the 2nd that he is likely to announce the nominees for the next chairman of the Federal Reserve in early 2026. On the same day, he also hinted that Hassett, director of the White House National Economic Council, might be his chosen one. Powell was nominated as Chairman of the Federal Reserve during Trump's first presidential term and took office in February 2018. He was later nominated for re-election during the Biden administration. After taking office as president again in January of this year, Trump repeatedly criticized Powell, accusing the Federal Reserve of cutting interest rates too slowly, and threatening to dismiss Powell from office. Trump once again criticized Powell on the 2nd, calling him a “stubborn cow.”

US President Trump said at a cabinet meeting held at the White House on the 2nd that he is likely to announce the nominees for the next chairman of the Federal Reserve in early 2026. On the same day, he also hinted that Hassett, director of the White House National Economic Council, might be his chosen one. Powell was nominated as Chairman of the Federal Reserve during Trump's first presidential term and took office in February 2018. He was later nominated for re-election during the Biden administration. After taking office as president again in January of this year, Trump repeatedly criticized Powell, accusing the Federal Reserve of cutting interest rates too slowly, and threatening to dismiss Powell from office. Trump once again criticized Powell on the 2nd, calling him a “stubborn cow.”