President Donald Trump said Thursday he will announce his pick to replace Federal Reserve Chairman Jerome Powell on Friday.
Speaking to reporters on the red carpet for first lady Melania Trump’s new movie, "Melania," Trump was asked how soon he would name a new Fed chair.
"Tomorrow morning," the president said. "I’ll be announcing the Fed chair tomorrow morning."
Former Federal Reserve Governor Kevin Warsh has emerged as a leading contender to replace Powell, meeting with Trump at the White House on Thursday, according to people familiar with the matter.
Warsh served on the Federal Reserve’s Board of Governors from 2006 to 2011, placing him at the center of the central bank’s response to the 2007-09 financial crisis. During his tenure, he represented the Fed at the Group of Twenty, served as an emissary to economies across Asia, and oversaw the institution’s internal operations as administrative governor.
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