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President Donald Trump announced on Thursday, January 29, that he will reveal his pick for Federal Reserve Chair on Friday, January 30, following speculation about who will succeed Jerome Powell when his term ends in May 2026. Trump made the statement at the Kennedy Center and reiterated at his first 2026 cabinet meeting that he favors deep interest rate cuts. Powell’s potential continued role at the Fed is under discussion, as he could remain as a Board of Governors member until 2028, despite recent pressure from the Trump administration, including a DOJ investigation into Fed headquarters renovation cost overruns. The Federal Reserve, after cutting rates three times in 2025, recently held its benchmark rate at 3.50%-3.75%, while Trump believes it should be 2-3 percentage points lower. Former Fed Governor Kevin Warsh has emerged as the leading candidate, with prediction markets giving him over an 80% chance, following a White House meeting where he reportedly impressed Trump. #DonaldTrump, #FederalReserve, #FedChair, #JeromePowell, #InterestRates, #Economy, #FinanceNews, #Trump2026, #USPolitics, #CentralBank Moneycontrol is India’s leading financial portal, offering market news, expert analysis, and powerful tools. A part of Network18, moneycontrol.com is India’s most trusted destination for financial and business news. #live #livenews #latestnews #topnews #moneycontrol #moneycontrollive #businessnews #businessnewslive #stockmarket #stockmarket #sharemarketnews #stockmarketliveupdates Subscribe: https://bit.ly/moneycontrolyoutube Follow us: Visit https://www.moneycontrol.com/ Facebook: /moneycontrol Twitter: /moneycontrolcom Instagram: /moneycontrolcom