Who could be the next Federal Reserve chairman if Jerome Powell is sacked by Donald Trump? Here are some names making the rounds

As US President Donald Trump increases his attacks on the Federal Reserve, there are speculations about who will replace the top Fed official if he chooses to oust current Fed Chair Jerome Powell when his term ends in May 2026 or earlier, as per a report.

Two possible successors are already making a move into the limelight, providing blunt commentary on the Fed's current course, its autonomy, and how politics could shape its future, as per Yahoo Finance.

Kevin Warsh

Kevin Warsh, a veteran Fed governor, is a strong contender in the eyes of many observers. During an April 25 speech in Washington, D.C., he said the Fed has "strayed outside of its remit" and that its "current wounds are largely self-inflicted," as reported by Yahoo Finance.


Warsh urged a "strategic reset" to repair public confidence and highlighted that Fed independence is primarily up to the Fed, as per the report.

He also emphasized, "I strongly believe in the operational independence of monetary policy as a wise political economy decision," quoted Yahoo Finance.

However, Warsh also mentioned that "independence is reflexively declared, all too often in my view, when the Fed is criticized," as quoted in the report.

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Chris Waller

Another name circulating is the Fed Governor Chris Waller, as per the report. During a recent Bloomberg interview on April 24, Waller openly discussed the scrutiny that would come with being the chair of the central bank.

He said, "You take the job knowing you're going to be criticized ... if you don't like to be criticized, don't take the job," quoted Yahoo Finance.

However, Waller also mentioned that the US president's criticism of the Fed would not influence the decisions of Fed officials and also mentioned that retaining Fed independence is important for whoever the next Fed chair is, according to the report.

Waller said, "Are they going to come in and keep the tradition of central bank independence, making policy in a nonpolitical way? For me, that’s critical ... whoever the next chair is," quoted Yahoo Finance.

FAQs

Why is there talk of replacing Jerome Powell as Fed Chair?
President Donald Trump has been increasingly critical of the Federal Reserve, sparking speculation that he may want someone new in charge when Powell’s term ends in 2026—or even earlier, as per Yahoo Finance.

Who are the top names being considered to replace Powell?
Two names getting attention are Kevin Warsh, a former Fed governor, and Chris Waller, a current Fed official.