Trump to announce new Federal Reserve chair to replace Jerome Powell on Friday: Who is the frontrunner?

US President Donald Trump on Thursday (local time) said he will announce his pick to replace Federal Reserve Chair Jerome Powell on Friday morning, as reported by Reuters.

“I’ll be announcing the Fed chair tomorrow morning,” Trump said at the Kennedy Center on Thursday, the news agency reported reported.

Several candidates are reportedly being considered to replace Powell as the head of the US central bank, with some of the biggest names being White House National Economic Director Kevin Hassett, former Fed governor Kevin Warsh, current Fed governor Christopher Waller, and BlackRock executive Rick Rieder.

(This is a breaking news; check later for updates)

(With inputs from Reuters)