Trump Plans to Announce Fed Chair Choice Next Week

President Donald Trump said that he intends to announce his pick to replace Federal Reserve Chair Jerome Powell next week.

The move ends weeks of speculation over who will lead the U.S. central bank after Powell’s term expires in May.

“And it will be a person that will, I think, do a good job. We're paying far too much interest in the Fed. The Fed rates too high, unacceptably high. We should have the lowest interest rate anywhere in the world,” Trump said.

Prior to the meeting, Trump again criticized Powell on Truth Social, accusing him of failing to cut interest rates and arguing that current policy is harming the U.S. economy and national security.

Trump called Powell “politically biased” during the White House Cabinet meeting.

He said last week that he was down to one candidate and that it wasn’t likely to be White House economic adviser Kevin Hassett.

"I'd like to actually keep him where he is if you want to know the truth. I don't want to lose ⁠him. He's so good on television," Trump said. 

Trump said the three other candidates were good, adding that BlackRock's chief bond investment manager, Rick Rieder, had been "very impressive" in his interview.

The other two candidates named by Trump and his top aides ​are a current Fed governor, Christopher Waller, and a former Fed governor, Kevin Warsh.