The Hague: US President Donald Trump on Wednesday renewed his criticism of Federal Reserve Chair Jerome Powell, urging for a rate cut and labeling Powell as "terrible." Trump also confirmed that he is considering "three or four" candidates as potential replacements for Powell.

According to Anadolu Agency, Trump expressed his dissatisfaction with Powell at a press conference following the NATO Heads of State and Government Summit in The Hague, Netherlands. Trump stated Powell "goes out pretty soon, fortunately," and accused him of being overly cautious and political. He further added that he had already identified potential successors to Powell.

Trump criticized Powell's handling of the economy, asserting, "I think he is a very stupid person, actually." He emphasized the strength of the US economy, citing the absence of inflation, substantial tariff revenues, and significant investments flowing into the country.

While pushing for interest rate cuts, Trump acknowledged that if inflation were to rise, he would support an increase in rates. He highlighted the burden of high interest rates on national debt, describing Powell as "an average mentally person" and questioning his competence.

The remarks came in the wake of the Federal Reserve's decision to maintain the policy rate within the target range of 4.25% to 4.5% last week. Trump has consistently called for rate reductions, pointing to actions by European central banks and warning of potential economic stagnation in the US.