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Trump says he will announce Fed chair next week, has 'specific person' in mind

  • The White House on Friday confirmed that President Donald Trump will announce his choice for chairman of the Federal Reserve next week.
  • "I can confirm an announcement next week, but beyond that, I don't have any other details to add," White House press secretary Sarah Huckabee Sanders told reporters at the daily briefing.
  • Later Friday, Trump confirmed he would make the announcement next week, saying that he had a specific person in mind for the post.

The White House on Friday confirmed that President Donald Trump will announce his choice for chairman of the Federal Reserve next week, signaling the end of a months-long selection process to determine the nation's next top central banker.

Asked about the Fed Chair search at the White House's daily briefing, press secretary Sarah Huckabee Sanders told reporters, "I can confirm an announcement next week, but beyond that, I don't have any other details to add."

Later Friday, Trump himself confirmed he would make the announcement next week, saying in a video released through his social media channels that he had a "specific person" in mind for the post.

The president recently narrowed the pool of candidates down to three: Jerome Powell, a current governor of the Federal Reserve; John Taylor, a Stanford University economist widely viewed as the most conservative of Trump's top candidates; and Janet Yellen, the current Fed Chair, whose term expires in February of 2018.

As of Friday evening, online political market PredictIt pegged Powell as the big favorite, with a 78 percent chance of being named to the post.