Trump to announce Federal Reserve chair nominee Friday morning.

President Donald Trump said he will announce his choice for Federal Reserve chair on Friday; reports list four known finalists and note rising tensions with current chair Jerome Powell.

U.S. President Donald Trump said he plans to announce his choice for chairman of the Federal Reserve on Friday morning. The decision is notable because it could affect the central bank's independence and monetary policy. Trump has publicly criticized current Fed chair Jerome Powell and urged lower interest rates. A search led by Treasury Secretary Scott Bessent produced a short list of finalists. Key details: - The president said he would announce the Fed chair on Friday morning. - Four known finalists reported in the article are Kevin Warsh, Christopher Waller, Rick Rieder and Kevin Hassett. - Trump previously suggested Hassett was a front-runner, then said he wanted Hassett to remain in his current role. - The article reports rising tensions between Trump and Powell, including recent subpoenas from the Justice Department related to Fed renovation costs and a public video statement from Powell about threats to Fed independence. - Powell's term as chair ends in about three months, while his term on the Fed's board runs through 2028, which could affect the balance of the board. Summary: The article says the choice could set up a test of whether the Federal Reserve preserves its independence from the White House and could influence U.S. monetary policy. Undetermined at this time.