UPDATE 1-Trump plans to announce his Fed chairman choice next week

President Trump said ⁠he intends to announce his pick to replace Federal Reserve Chair Jerome ​Powell next week, ending weeks of ‍speculation over who will lead the U.S. central bank after Powell’s term ⁠expires ‌in ⁠May 2026. "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 said during his first cabinet meeting of the year.

President Trump said ⁠he intends to announce his pick to replace Federal Reserve Chair Jerome ​Powell next week, ending weeks of ‍speculation over who will lead the U.S. central bank after Powell’s term ⁠expires ‌in ⁠May 2026.

"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 said during his first cabinet meeting of the year. He ⁠also reiterated his criticisms of the ⁠independent body, ‌saying interest rates remain too high. (Reporting By Jarrett ⁠Renshaw, Editing by ‍Franklin Paul)