Trump Targets Powell as Fed Holds Rates: Who Could Replace Him?

Federal Reserve Chair Jerome Powell is once again under fire, this time facing renewed criticism from Donald Trump over the Fed’s decision to hold interest rates steady in June.

With inflation concerns rising and global counterparts like the European Central Bank already implementing multiple rate cuts, Trump has accused Powell of acting too slowly—and has hinted at replacing him if given the chance.

Though Powell’s term runs until May 2026, the conversation around potential successors has already begun. Trump’s frustrations stem from Powell’s reluctance to pivot on monetary policy in the face of import tariffs and economic headwinds. But despite his strong words, legal precedent may prevent any early dismissal—recent Supreme Court interpretations confirm the Fed’s structural independence from presidential influence.

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Still, political pressure is mounting, and names are already being floated as possible replacements. According to betting data from Polymarket, former Fed governor Kevin Warsh currently leads in probability, followed by Christopher Waller, Kevin Hassett, Scott Bessent, and Judy Shelton. Both Hassett and Bessent are known for their pro-crypto and dovish policy leanings, potentially aligning with Trump’s preferred economic direction.

Other rumored candidates range from former World Bank head David Malpass to libertarian figure Ron Paul, and even Elon Musk has been jokingly tossed into the mix by online chatter. While no formal decision is imminent, the debate signals growing uncertainty about the future of U.S. monetary leadership—and the increasing role politics may play in shaping it.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.