Jerome H. Powell, whose term does not expire until May, has argued that the central bank can afford to be patient about cutting interest rates amid uncertainty about the economic outlook.

U.S. President Donald Trump said on Friday he would "love" if Federal Reserve Chair Jerome Powell were to resign, and the president also said he wanted interest rates cut to 1%. KEY QUOTES "I'd love him to resign if he wanted to,

The Polymarket prediction site identifies former Fed Governor Kevin Warsh, Fed Governor Christopher Waller and National Economic Council Director Kevin Hassett as the leading candidates to replace Powell.