US President Donald Trump confirmed that he will announce a candidate for the new Federal Reserve (Fed) chair on Friday morning (US time).
The announcement is expected to end a five-month search to replace current Fed Chair Jerome Powell.
At the premiere of a documentary about his wife, Melania Trump, Trump explained that a decision has been made.
If no decision has been made yet, he will move forward with the process quickly.
The search process began in September last year and involved 11 candidates consisting of former Fed officials, economists, and Wall Street professionals.
US Treasury Secretary Scott Bessent acted to filter the candidates until the final four names were narrowed down.
The four candidates are former Fed Governor Kevin Warsh, National Economic Council Director Kevin Hassett, current Fed Governor Christopher Waller and BlackRock Chief Investment Officer Rick Rieder.
The prediction market is showing a tight race. Hassett led initially, followed by Warsh and now Rieder.
However, Kalshi's prediction platform has Warsh as the top choice with an 80% probability.
Administration sources confirmed Warsh was in the White House on Thursday, but officials denied speculation about his appointment.
At the same time, White House spokesman Kush Desai described any further reports as a waste of time until an official announcement is made.
However, Powell remained silent on whether he would stay after his term ends in May, despite still having two years left on the board of governors.
Trump's choice is not just a matter of personality, it reflects the direction of US monetary policy that will affect global markets.
In an uncertain global economic situation, this decision will test the administration's courage to take risks or maintain the status quo.
