Treasury Secretary Scott Bessent said Wednesday he would push a new requirement that the Federal Reserve’s regional bank presidents live in their districts for at least three years before taking office,

President Trump slams the Federal Reserve's $2.5 billion headquarters renovation as wasteful spending, calling Fed Chair Jerome Powell a "clown" over the costly construction project.

The US President's latest comment on appointing Powell's replacement comes days after he told reporters on board Air Force Once that he had decided on his pick for the top post at the Federal Reserve.

Current chairman, Jerome Powell, has faced major scrutiny from Trump during his second term, and indeed for years prior. In the past, he has referred to Powell as a "numbskull," a "Trump Hater," and a "stubborn mule," CBS reported.