Vanity Fair is reporting that former White House chief strategist Stephen Bannon is frustrated with President TrumpDonald John TrumpSasse: Trump shouldn't dignify Putin with Helsinki summit Top LGBT group projects message onto Presidential Palace in Helsinki ahead of Trump-Putin summit Hillary Clinton to Trump ahead of Putin summit: 'Do you know which team you play for?' MORE.

In a piece written by Gabriel Sherman, the magazine reports that Bannon joked to a friend last month that the president is like an 11-year-old child and that Trump has told his own advisers that after a year in office, the president has "lost a step."

Sherman writes that in private conversations, Bannon has said that Trump has just a 30 percent chance of finishing his term, because he may be impeached or removed from office under the 25th Amendment, and that there are rumors that Bannon may run for president in 2020 if Trump does not.

Bannon's spokesperson pushed back on the reports in a statement to CNN's Oliver Darcy. 

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"Fake News. Steve is 100% not running for President. He is not a politician. He is spending all his time building a grassroots organization to support the President," the statement said. 

Bannon told Vanity Fair in an interview that he had been frustrated in the White House, was not a good staffer and that he relished his outside role, where he leads Breitbart News. He told Sherman, "I have power. I can actually drive things in a certain direction." 

He also praised Trump in the interview, Sherman wrote.

The former White House official backed GOP Senate candidate Roy MooreRoy Stewart MooreDoug Jones walks tightrope on Supreme Court nominee Who to watch for in Sacha Baron Cohen's upcoming show GOP lawmaker thinks he was duped by Sacha Baron Cohen MORE in last week's Senate special election in Alabama, and saw him fall to Democratic candidate Doug Jones in a major upset.