Chicago – January 30, 2026
President Donald Trump has confirmed that he will reveal his choice for the next chairman of the Federal Reserve on Friday morning, ending months of speculation and potentially triggering a major debate about whether the U.S. central bank can remain independent from the White House and election-year politics.
The decision is being closely watched by financial markets, economists, and political leaders, as the Federal Reserve plays a central role in managing interest rates, inflation, and economic growth in the United States.
Trump Confirms Fed Chair Announcement
Speaking to reporters on Thursday night, Trump said the announcement would come the following morning. He made the remarks while attending a screening of the documentary “Melania,” which focuses on his wife.
“I’ll be announcing the Fed chair tomorrow morning,” Trump said.
“It’s going to be somebody that is very respected, somebody that’s known to everybody in the financial world… and I think it’s going to be a very good choice.”
Powell’s Term Nears Its End
The current Fed Chair, Jerome Powell, is nearing the end of his term as head of the U.S. central bank, which expires in May. Over the last year, Trump has repeatedly criticized Powell, arguing that the Federal Reserve should take more aggressive action to boost economic growth.
Trump has pushed for the Fed to cut its benchmark interest rates more sharply, believing that lower borrowing costs would stimulate faster expansion in business activity, investment, and job creation.
