President Trump said Wednesday that he plans to announce his choice for the new chair of the Federal Reserve on Thursday, capping off weeks of speculation about who he would select to control the country’s monetary policy.
“I’ll be announcing tomorrow the new head of the Federal Reserve. That will take place sometime tomorrow afternoon. You’ll be notified as to the time,” Trump told reporters at the White House on Wednesday before a Cabinet meeting. “I think you’ll be extremely impressed by this person.”
Trump on his Federal Reserve chair appointment: “I think Janet Yellen is excellent.” pic.twitter.com/zD5caEll3o
— Washington Examiner (@dcexaminer) November 1, 2017
Trump is expected to name Jerome Powell, a Republican member of the Fed’s board, to succeed the current chair, whose term expires in February. The president has also considered keeping Janet Yellen on for another term at the Fed’s helm.
“I think Janet Yellen is excellent,” Trump said on Wednesday. He declined to say whether he had decided to renominate Yellen.
