Working on Replacements

Fed Chair Jerome Powell will be gone in 11 months. Who's his replacement?

CNN reports Trump calls Fed Chair Powell an 'average mentally person' and says he's working on replacements

President Donald Trump stepped up attacks on his handpicked Federal Reserve chairman on Wednesday, claiming Jerome Powell has "low IQ" and suggested that he has narrowed down the list of potential replacements to three or four people.

"He's an average mentally person…Low IQ for what he does," Trump said of Powell during remarks at a press conference at the NATO summit in the Netherlands Wednesday. "I think he's a very stupid person, actually."

Trump has been berating Powell all year, arguing the Fed's reluctance to slash interest rates is costing the federal government hundreds of billions of dollars in interest.