Trump Says He’s Already Picked Powell’s Replacement as Federal Reserve Chair

Trump has said on several occasions that he believes the Fed is stifling the economy by being too slow to cut rates.

President Donald Trump speaks to reporters aboard Air Force One en route to South Korea on Oct. 29, 2025. Andrew Harnik/Getty Images

President Donald Trump said on Nov. 30 that he has already decided on his pick to replace Federal Reserve Chair Jerome Powell, adding that an announcement is forthcoming, but declining to identify his nominee.

“I know who I am going to pick, yeah,” Trump told reporters on Air Force One on his way back from Florida to Washington on Sunday.