A day earlier, while speaking at an APEC CEO’s event in South Korea, Trump referred to Powell as “incompetent” and by the nickname “Too Late” before adding that, after the Fed Chair’s term expires next year, a change in leadership will more closely reflect Trump’s economic vision. (6)

Federal Reserve policymakers are split over whether they should continue cutting interest rates, ending the long stretch of consensus that has defined Chair Jerome Powell’s leadership of the central bank.

Treasury Secretary Scott Bessent tried taking his flattery to new heights Tuesday—by pitching a demotion for President Donald Trump. Bessent, 63, told Bret Baier on Fox News’ Special Report that he was officially out of the running to replace Jerome Powell as Federal Reserve chair, before floating Trump, 79, for the job.

Wellington-Altus's chief market strategist James Thorne discusses Chair Jerome Powell's departure from the Fed.

European Central Bank President Christine Lagarde is to take over from Federal Reserve chief Jerome Powell as head of two of the Bank for International Settlements' key economic groups, the central bank umbrella body said on Wednesday.