President Trump announced that he will reveal his nominee for Federal Reserve Chair on Friday morning local time. This move signals the imminent conclusion of a selection process that has dragged on for months, sparking widespread global speculation about the future direction of the world's most influential central bank. At an event in Washington on Thursday evening, when asked when he would announce his pick for Fed Chair, Trump responded, "Tomorrow morning." It is understood that Trump's final shortlist includes four candidates: National Economic Council Director Kevin Hassett, Fed Governor Christopher Waller, former Fed Governor Kevin Warsh, and BlackRock executive Rick Riedel. The nomination selection process has been led by Treasury Secretary Besant. While previewing the appointment, Trump did not reveal a specific name but stated the choice "won't be too surprising" and is "well-known to everyone in finance." He added, "Many people believe this person should have been nominated years ago." Just hours earlier, Trump had indicated a plan to announce the nominee next week, while reiterating his expectation that the next chair would aggressively cut interest rates. The Federal Reserve's decision on Wednesday to hold its benchmark interest rate steady drew clear dissatisfaction from Trump. For months, Trump and his allies have consistently pressured the Fed and its current Chair, Jerome Powell, with the Justice Department even launching an investigation into the renovation of the Fed's headquarters. This has drawn criticism that Trump's actions are undermining the Fed's ability to set interest rates independently, free from political pressure. Earlier on Thursday, Trump stated, "We are paying too high a cost for the Fed's interest rates. The United States should have the lowest interest rates in the world; current rates should be cut by at least 2 percentage points, maybe even 3." However, regardless of whom Trump ultimately selects, the Senate confirmation process for the nominee is likely to be fraught with difficulty. Senate Banking Committee member, Republican Senator Thom Tillis, has explicitly stated that he will block all of Trump's Fed-related nominees until the Justice Department's investigation into the Fed is concluded. On Wednesday, the Fed chose to hold rates steady, having already cut rates three consecutive times in the final months of 2025. Fed officials cited signs of stabilization in the labor market and persistently high inflation as the primary reasons for pausing rate cuts. In a subsequent press conference, Powell declined to comment on the Justice Department's related investigation. He also expressed strong confidence that the Fed would not lose its policy independence and offered advice to his successor. He cautioned, "Do not get involved in election politics, absolutely not."