“The board just sits there and watches, so they are equally to blame,” Trump said. The attack on the board ratchets up pressure on individual Fed officials, such as Governor Chris Waller, who have been mentioned as potential successors to Powell, whose term ends in May 2026.

The Fed chair will speak Tuesday morning at the European Central Bank’s Forum on Central Banking in Sintra, Portugal.

U.S. President Donald Trump said on Tuesday he has two or three top choices to replace Jerome Powell as Federal Reserve chair. Powell, whose term ends in May 2026, was nominated by Trump to lead the U.