Trump says he has no intention of dismissing Powell and suggests that Pence and Rubio could be potential successors as president.

Although criticized for his slow pace of rate cuts by Powell, President Trump reiterated that he does not intend to dismiss the Federal Reserve Chairman. "Why would I do that?" Trump said, "It's not too long before I can replace him anyway." Powell's term is set to end in May 2026. When asked again on Friday if he is seeking reappointment, he said, "That's not something I'm considering." He also mentioned Vice President JD Vance and Secretary of State Marco Rubio as potential successors. Trump said, "I want to do well in these four years, and then hand over power to a great Republican, preferably someone who can continue the work of a great Republican."