WASHINGTON, June 27, 2025 (BSS/AFP) - The White House said Thursday no decision is imminent on naming a successor to Federal Reserve Chairman Jerome Powell, after a report suggested the president could do so this summer.

"No decisions are imminent, although the president has the right to change his mind," a White House official told AFP.

"The president has many good options to nominate as the next Federal Reserve chairman," the official added.

Powell's term as chief of the independent central bank ends in May 2026, and the choice of a successor by this summer or fall would be sooner than usual.

But a Wall Street Journal report late Wednesday said President Donald Trump has considered selecting and unveiling Powell's replacement by September or October.

His discontent with Powell could also nudge him towards an earlier announcement this summer, the Journal said.

The dollar ceded ground after the report, losing 0.7 percent against the euro Thursday.

Analysts flagged fears surrounding the independence of the Fed if Trump were to make such an early announcement, as Powell's likely successor could sway expectations about the path of interest rates before assuming their new role.

Trump's potential choices include former Fed governor Kevin Warsh, National Economic Council director Kevin Hassett and Treasury Secretary Scott Bessent, the Journal reported.

Trump has repeatedly expressed frustration with Powell's cautious approach to lowering interest rates, citing benign inflation data.

He has called the Fed chair -- who he nominated to lead the central bank in 2017 -- "too late" in acting and a "numbskull" for not slashing rates.

Powell, however, maintains that the Fed can afford to wait to learn more about how the economy is impacted by Trump's tariffs before adjusting policy.

This is because the world's biggest economy is still in good shape despite elevated uncertainty currently, Powell earlier said.

Last week, the Fed held the benchmark lending rate steady for a fourth straight policy meeting, at a range between 4.25 percent and 4.50 percent.

While the White House has not said who is in the running to take over at the helm of the Fed, Trump earlier said he knew "within three or four people" who he would pick.