Global Economy
Trump to Reveal Federal Reserve Chair Pick on Friday Amid Market Buzz
U.S. President Donald Trump announced that he will unveil his nominee to lead the Federal Reserve on Friday morning, a decision the financial markets have been waiting for. After hinting earlier that the announcement might be delayed until next week, Trump said the new chair will be "someone very good" and reiterated that current interest rates are "unacceptably high". Potential candidates include former Fed governor Kevin Warsh, current governor Christopher Waller, BlackRock investment chief Rick Rieder, and economist Kevin Hassett. The Fed recently left rates unchanged after three consecutive cuts, and outgoing Chair Jerome Powell warned that the central bank’s independence must be preserved.
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Trump promises Fed chair announcement on Friday
President Donald Trump told reporters on Thursday night that he will name his nominee for the chairmanship of the U.S. central bank, the Federal Reserve, "tomorrow morning". The announcement is expected to send strong signals to the markets, which have been awaiting a clear direction on monetary policy.
Initially, Trump had hinted he might wait until next week, but he accelerated the timeline, stating that his choice is "someone very good" who will "do a good job". He also repeated his criticism that current interest rates are "too high, intolerably too high".
Potential candidates
According to the White House, the shortlist includes:
- Kevin Warsh – former Federal Reserve governor
- Christopher Waller – current Federal Reserve governor
- Rick Rieder – Chief Investment Officer at BlackRock (NYSE:BLK)
- Kevin Hassett – Trump’s own economic adviser (previously floated as a favorite)
Trump previously suggested Hassett last month but later back‑tracked, saying he needs Hassett’s talent on TV to defend his policies.
Fed’s recent moves
On Wednesday the Federal Reserve decided to keep its policy rate unchanged after three consecutive cuts at the end of 2025. In the same press conference, outgoing Chair Jerome Powell stressed that the institution’s independence must be protected, adding, "I sincerely hope that does not happen."
The current chair’s term ends in May, opening the door for a new leader to shape the next phase of U.S. monetary policy.
Stay tuned for the official announcement on Friday, which could reshape expectations for interest‑rate trajectories and market volatility.