The gloves are off in the heated clash between Federal Reserve Chair Jerome Powell and President Donald Trump.

The new betting odds come as Trump indicated that he would nominate either Warsh or national economic council Kevin Hassett to replace Powell, whose term is set to end in May. "The two Kevins are very good," Trump told Reuters on Wednesday. "You have some other good people too, but I'll be announcing something over the next couple of weeks."

JPMorgan Chase CEO Jamie Dimon has emerged again as a fervent supporter of Federal Reserve chief Jerome Powell. His backing comes on the heels of Powell’s announcement that the Department of Justice had issued a subpoena against the central bank.

Powell." It was evidence not just of the relationships Powell has built in his years as a central banker, but of the importance of the Fed to global market functioning. Read about innovative ideas and the people working on solutions to global crises with the Reuters Beacon newsletter.

White House officials are heaping blame on DC US Attorney Jeanine Pirro over her office’s criminal investigation into Fed Chair Jerome Powell, faulting her for blindsiding them with an inquiry that has forced the administration into a dayslong damage control campaign,

President Donald Trump said December inflation data supports his calls for Federal Reserve Chair Jerome Powell to cut interest rates after CPI showed 2.7% annual price growth.

The subpoenas threatened a criminal indictment related to Jerome Powell's testimony before the Senate Banking Committee in June 2025, according to the Fed chair.

The rebukes from regional Fed officials are landing as the White House faces a cascade of criticism over the criminal inquiry into the central bank chair.