Trump to name Fed chair Friday as Warsh meeting fuels speculation

President Donald Trump told reporters late Thursday that he will announce his selection to lead the Federal Reserve on the morning of Friday, Jan. 30, saying as he arrived at the premiere of the documentary Melania, "I’ll be announcing the Fed chair tomorrow morning" and "I’ve chosen a very good person to head the Fed."

The timeline accelerates a months-long search that administration officials say began in September with an 11-candidate field and was led by Treasury Secretary Scott Bessent. A person familiar with the matter said former Fed governor Kevin Warsh met with the president at the White House on Thursday, and several people involved in the process indicated the administration was preparing for Warsh to be the nominee. Officials caution, however, that nothing is final until the president makes a formal announcement.

White House spokesman Kush Desai pushed back on speculation, saying, "President Trump will make an announcement about his pick for the Federal Reserve at the appropriate juncture. Any and all reporting on the Federal Reserve Chairman nominations process until then is a waste of everyone’s time." The comment underscored the administration's effort to control rollout timing even as reporters and markets parsed signals from the vetting process.

The search narrowed in recent weeks to four public finalists: Kevin Warsh, Kevin Hassett, Christopher Waller and Rick Rieder. Warsh, a former Fed governor and a finalist in the 2017 Fed chair search, has been prominent in discussions as the field has winnowed. Hassett is the White House National Economic Council director; Waller is a current Fed governor; and Rieder is BlackRock’s chief investment officer for fixed income.

The choice comes amid sustained tension between the White House and the Fed over interest-rate policy. Trump has repeatedly urged quicker cuts to borrowing costs and has criticized current Chair Jerome Powell for moving too slowly, at times calling him a "stubborn mule" and "Mr. Too Late." Powell’s term as Fed chair expires in May 2026; under Federal Reserve rules he may remain on the Board of Governors through the remainder of his term, into early 2028.

A new chair would set monetary policy priorities at a delicate moment for the economy. Lower rates, the president and his allies argue, could spur growth and make borrowing cheaper for households and businesses. Independent economists and market participants warn, however, that aggressive rate cuts risk reigniting inflation pressures that central bankers have spent years trying to temper.

NPR analysts and others have flagged the political stakes of the appointment, saying a Trump nominee who favors faster easing could ignite a broader debate over the Fed's independence from the White House. A formal White House nomination would trigger a Senate confirmation process that could become a high-profile test of those dynamics.

For now, the only definitive public action is the president’s promise to announce a name Friday morning. Administration officials and others involved in the process have emphasized the announcement as the moment that will make the choice official and begin the next phase of scrutiny.