US President Donald Trump today launched a new attack on Fed chief Jerome Powell.

Trump, after first saying that Powell was delayed to reduce interest rates, pointed out that he was “doing awful job” but is not planning to do anything yet, Reuters notes.

“We will make a change of president in 8 months,” Trump said.

He added that he had no intention of dismissing him immediately, though he has discussed it with Republicans.

In addition, he said that many would like Powell’s position and that White House Finance Advisor Kevin Hasset could be a possible replacement.

Earlier, US President Donald Trump asked Republican MPs if he should have fired federal bank chief Jerome Powell, and many people in the room said he was implied that he was going to do so.

The Bloomberg agency cited a White House official who allegedly said: Trump is likely to dismiss Powell soon.

The US President’s meeting with members of the House of Representatives took place at the Oval Office on Tuesday night.

Trump has strongly criticized Fed’s monetary policy in recent months, angry by Powell’s refusal to reduce interest rates. Fed executives resist interest rates until there is more clarity as to whether duties on US trade partners can trigger inflation.

Trump has called on Powell to resign but has no power to dismiss him because of their monetary policy. Powell was appointed to this post by Trump in 2017. Four years later, democratic President Joe Biden decided to renew his term, ending on May 15, 2026.