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

Jerome Powell has been the Federal Reserve Chair since February 2018. Trump nominated Powell in 2017, but now calls for him to resign. Bessent is

Treasury Secretary Scott Bessent said Tuesday that a “formal process” to find a successor for Federal Reserve Chair Jerome Powell has already started — as the Trump administration ratchets up pressure for the top central banker to step aside before his term ends.

Tensions between Fed Chair Jerome Powell and Trump have intensified over the central bank’s interest rate decisions and monetary strategy. Trump has placed the blame on Powell for not cutting rates.

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.

TLDR The formal process to find a replacement for Jerome Powell as Federal Reserve Chair has officially started. Treasury Secretary Scott Bessent confirmed that the White House is actively reviewing candidates for the position.

President Donald Trump on Wednesday called Federal Reserve Chair Jerome Powell "terrible" in his latest attack on the central bank chief and said he has three or four people in mind as contenders ...