President Donald Trump announced plans to replace Federal Reserve Chair Jerome Powell within 'a few months,' criticizing him as 'incompetent' and detrimental to the economy. Speaking aboard Air Force One on October 28, 2025, Trump accused Powell of delayed actions on interest rates, suggesting potential successors such as Kevin Warsh and Judy Shelton. Powell's term is set to end in May 2026, but Trump's remarks indicate a possible early departure. The announcement led to a slight drop in bond yields and modest gains in rate-sensitive sectors, including technology and real estate, as markets reacted to the potential leadership change at the Federal Reserve.