Trump plans to announce his Fed chairman choice next week

He also reiterates his criticisms of the independent body, saying interest rates remain too high

View of the facade as construction continues on the Federal Reserve Board building in Washington, DC, US, Sept 17, 2025. REUTERS/Ken Cedeno

President Trump said he intends to announce his pick to replace Federal Reserve Chair Jerome Powell next week, ending weeks of speculation over who will lead the U.S. central bank after Powell’s term expires in May 2026.

"We're going to be announcing the head of the Fed...and it'll be a person that will, I think, do a good job," Trump said during his first cabinet meeting of the year.

He also reiterated his criticisms of the independent body, saying interest rates remain too high.