• Trump will announce his nominee for Federal Reserve chair next week.
• The new chair will replace Jerome Powell, whose term ends in May 2026.
• Trump criticized Powell for high interest rates, stating they're "unacceptably high."
• Four potential candidates are Kevin Hassett, Christopher Waller, Kevin Warsh, and Rick Rieder.

President Donald Trump has confirmed that he will announce his nominee for the next Federal Reserve chair next week. This decision comes in light of Jerome Powell’s term expiration in May 2026, ending prolonged uncertainty regarding the central bank's leadership. "We’re going to be announcing the head of the Fed...and it'll be a person that will, I think, do a good job," Trump stated during a cabinet meeting, expressing his ongoing criticism of the Fed's current interest rate policies according to Reuters and India Times.

Trump’s frustration with Powell has centered on interest rates, which he insists are excessively high. He remarked, “We’re paying far too much interest in the Fed," calling for more drastic cuts to stimulate economic growth. This comes as Trump has considered various candidates, including Kevin Hassett and Christopher Waller, both of whom are known figures in economic circles, according to ABC News and NPR.

As the announcement date approaches, tensions between the Trump administration and the Federal Reserve have intensified, especially following recent congressional scrutiny regarding Powell's actions and the Fed's independence. Trump hinted at the emerging political dynamics, stating, "If they respect the Fed chairman, they'll be with us all the way," suggesting changes in the Fed's direction under new leadership could impact policy decisions. According to Reuters, this choice will have significant implications for U.S. economic policy moving forward.