Trump says he will announce his Federal Reserve chair nominee on Friday morning

Associated Press (AP)CenterEN 4 min read 100% complete by By JOSH BOAK and DARLENE SUPERVILLEJanuary 30, 2026 at 08:53 AM

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President Donald Trump announced he will reveal his nominee for Federal Reserve chair on Friday morning. The decision follows a period of tension between Trump and current Fed Chair Jerome Powell, whose term expires in May. Trump has publicly pressured Powell to aggressively lower interest rates to stimulate economic growth, a stance Powell has resisted due to concerns about inflation. The announcement is anticipated to have significant implications for the Fed's independence from political influence. Treasury Secretary Scott Bessent led the search for the nominee. The president stated that the nominee is well-respected and known in the financial world.

Key Entities & Roles

Key Player Opposition Context

Scott Bessent 30% The John F. Kennedy Memorial Center For The Performing Arts 40% Melania Trump ×350% White House ×260% Washington ×260% Jerome Powell ×270% Federal Reserve ×480% Donald Trump ×790%

Keywords

federal reserve chair 100% donald trump 90% central bank independence 80% jerome powell 70% interest rates 60% economic growth 50% financial world 40%