President Donald Trump on Thursday night told reporters that he will be announcing his pick to chair the Federal Reserve on Friday morning, signaling an end to months of speculation.The development comes after the president indicated earlier Thursday that he would announce his pick to lead the Federal Reserve next week, after he criticized Fed Chair Jerome Powell over his hesitancy to lower interest rates, despite low inflation numbers.
It is unclear whether Trump plans to fire Powell or merely replace him when his term expires in 2028. Powell has resisted pressure to step down, despite the Department of Justice opening a criminal probe into his handling of the Fed building’s renovation.
Speculation has abounded as to Powell’s replacement, with Treasury Secretary Scott Bessent and National Economic Council head Kevin Hassett both ranking among the favorites at one time or another.
Ben Whedon is the Chief Political Correspondent at Just the News. Follow him on X.
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