Trump Renews Threat Against Powell, Vows New Fed Chief in January

• Donald Trump reiterated his threat to sue Federal Reserve Chair Jerome Powell for "gross incompetence" over HQ renovations.
• Trump plans to announce his choice for the next Fed chair in January, stating he "still" has a favorite candidate.
• He expressed a desire to fire Powell, whom he previously appointed, for not pursuing more aggressive interest rate cuts.
• Potential successors include Kevin Hassett, Kevin Warsh, Christopher Waller, Michelle Bowman, and Rick Rieder.
• Powell's term as chair ends May 2026, but his board membership continues until 2028.

Why It Matters: Trump renews his attack on Jerome Powell, threatening a lawsuit and promising a new Fed chief by January.