Trump Ramps Up Criticism of Fed Chair Powell, Searches for Successor. President Trump is back in the spotlight over the Federal Reserve, calling Fed Chair Jerome Powell "incompetent" and saying he'd "love to fire him" for not lowering interest rates fast enough. Speaking at a Saudi-backed investment forum in Washington, Trump pressed Treasury Secretary Scott Bessent to move quickly on naming Powell's successor. Trump praised Bessent but admitted he prefers to stay at Treasury. The administration has already narrowed the search to five finalists, including former and current Fed officials, a BlackRock executive, and Trump's economic adviser Kevin Hassett. Trump is set to meet the top three candidates after Thanksgiving, with a new pick likely before Christmas. Trump also questioned Powell's handling of a costly Fed renovation, though Powell disputes the claim. The president's criticism underscores his frustration with interest rates and his push to influence Fed leadership before Powell's term ends next May.