Trump to announce Fed chair next week

Washington: United States President Donald Trump on Friday confirmed that he 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.

Confirming the news through an Instagram video, Trump said that he has a “specific person” in mind for the post.

Reportedly, 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, 2018.