Trump set to announce new Fed Chair pick ‘sometime next week’ amid clash with Jerome Powell – One America News Network

January 30, 2026 Cory Hawkins US 0

WASHINGTON, DC - JANUARY 29: U.S. President Donald Trump looks on in the Oval Office at the White House on January 29, 2026 in Washington, DC. The President is signing an executive order to coordinate a federal government response to drug addiction. (Photo by Samuel Corum/Getty Images) / WASHINGTON, DC - JANUARY 28: Federal Reserve Chair Jerome Powell pauses while speaking during a press conference following the Federal Open Markets Committee meeting at the Federal Reserve on January 28, 2026 in Washington, DC. Powell announced that interest rates will remain steady at 3.5 - 3.75 percent. (Photo by Kevin Dietsch/Getty Images) — (R) U.S. President Donald Trump looks on in the Oval Office at the White House on January 29, 2026, in Washington, D.C. (Photo by Samuel Corum/Getty Images) / (L) Federal Reserve Chair Jerome Powell pauses while speaking during a press conference following the Federal Open Markets Committee meeting at the Federal Reserve on January 28, 2026 in Washington, D.C. (Photo by Kevin Dietsch/Getty Images)

OAN Staff Cory Hawkins
2:29 PM – Friday, January 30, 2026

President Donald Trump announced that he will choose his nominee to chair the Federal Reserve “sometime next week,” replacing Jerome Powell, the current chairman he has frequently clashed with over the past year.

“We are going to be announcing the head of the Fed, who that will be,” Trump said at his monthly Cabinet meeting at the White House on Thursday. “It will be a person that will, I think, do a good job. We’re paying far too much interest in the Fed. The Fed rate is too high, unacceptably high.”

Trump noted that he picked a group of four finalists for the position: National Economic Council Director Kevin Hassett, former Member of the Federal Reserve Board of Governors Kevin Warsh, BlackRock executive Rick Rieder and Federal Reserve Governor Christopher Waller.

Trump recently slammed Powell in a Truth Social post, blaming him for the Federal Reserve’s decision to keep interest rates at 3.5%-3.75% following a 10-2 vote, which Trump claimed ultimately threatens the country’s national security.

Donald J. Trump Truth Social Post 07:54 AM EST 01.29.26

Jerome “Too Late” Powell again refused to cut interest rates, even though he has absolutely no reason to keep them so high. He is hurting our Country, and its National Security. We should have a substantially lower rate now…

— Commentary Donald J. Trump Posts From Truth Social (@TrumpDailyPosts) January 29, 2026

“Jerome ‘Too Late’ Powell again refused to cut interest rates, even though he has absolutely no reason to keep them so high. He is hurting our Country, and its National Security. We should have a substantially lower rate now that even this moron admits inflation is no longer a problem or threat. He is costing America Hundreds of Billions of Dollar a year in totally unnecessary and uncalled for INTEREST EXPENSE.” Trump wrote.

Powell’s term ends in May, but his tenure as a board member runs through 2028. Trump originally appointed Powell as chairman of the seven-member board in 2017. Former President Joe Biden nominated him for a second four-year term in 2021, which Congress confirmed in 2022.

Trump has repeatedly criticized Powell’s interest rate policies and hinted that he may appoint a new Fed chairman more aligned with his economic agenda.

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