On July 16, local time, President Donald Trump addressed the future of Federal Reserve Chairman Jerome Powell, stating unequivocally that he currently had no intention of dismissing him and had not drafted any termination letter. Trump voiced criticism towards Powell for his perceived underperformance and alleged failure to fulfill his responsibilities. He refuted media speculation suggesting an imminent dismissal of Powell, but acknowledged having engaged in discussions with lawmakers on the matter. Trump indicated that personnel changes could be expected within the next eight months. He further emphasized that, barring evidence of misconduct, the likelihood of firing Powell remained slim. Trump also hinted at his consideration of White House Economic Adviser Kevin Hassett as a potential candidate for the Fed position, following his previous mention of Treasury Secretary Steven Mnuchin as another contender. In a media interview, Trump expressed a preference for Powell to step down voluntarily, while acknowledging that a replacement could potentially disrupt market stability.