Best bet would be to wait until May 2026, and replace the chairman with one that's loyal to Trump. That could also undermine investors confidence in the US, as the FED will become highly-politicized.
That is a good opportunity for Trump to replace Powell with someone closer to him , but it's not as easy as you might think. The president will have the power to nominate a new Fed chairman , but the final decision will be made by the Senate. If the Senate does not approve, Trump will have to nominate a new candidate . Although Republicans control the Senate, not all Republicans support all of Trump's ideas, so there is no guarantee that things will go his way .
Another thing that could happen is Trump and his administration abolishing the FED for good (End the Fed). It's part of Trump's "Project 2025" agenda (read the document to see for yourself).
Power in the US is distributed among three separate branches of government, rather than concentrated in a single person/organization. So this cannot happen, Trump has no authority to interfere with the Fed's internal decisions, let alone abolish them.