United States President Donald Trump has reportedly held private discussions for months regarding the potential dismissal of Federal Reserve Chair Jerome Powell, according to a report by the Wall Street Journal. Citing individuals familiar with the matter, the report states that Trump is considering removing Powell before the end of his term in 2026.

Trump has allegedly been consulting with Kevin Warsh, a former member of the Fed Board of Governors, to weigh the implications of firing Powell. During their conversations, the two reportedly even discussed the possibility of Warsh succeeding Powell in the event of a dismissal. However, sources indicate that Warsh advised against removing the current Fed chair.

Speaking at a press conference alongside Italian Prime Minister Giorgia Meloni, Trump did not conceal his dissatisfaction with Powell. “I’m not happy with him,” Trump said, reiterating his long-standing criticism of Powell’s monetary policies. Trump emphasized his belief that he has the authority to remove the Fed chief. “If I want him out, he'll be out of there real fast, believe me,” he asserted to reporters.

Trump’s comments come amid renewed scrutiny of the Federal Reserve’s decisions on interest rates and economic guidance. His administration has frequently clashed with Powell’s more cautious approach to rate adjustments, particularly as inflation and market dynamics remain key concerns heading into the second half of Trump’s second term.

The discussion around Powell’s tenure adds a new layer of complexity to the relationship between the executive branch and the independent central bank. While legally removing a Fed chair is unprecedented and controversial, Trump’s remarks suggest he is not ruling out the option. Observers expect further developments as the administration continues to pressure the Fed to adopt more aggressive policies in line with White House economic priorities.