Trump says decision on Fed chair will be out soon

[WASHINGTON] President Donald Trump said on Friday that a decision on the next Federal Reserve chair will be coming out soon, adding that a good Fed chair would lower interest rates.

“It’s coming out very soon,” Trump told reporters on Air Force One.

When asked specifically about former Fed governor Kevin Warsh, Trump said, “he’s very highly thought of.” Warsh is considered a frontrunner to be Trump’s pick to be the next Fed chair.

Earlier on Friday, Trump said the Federal Reserve should cut interest rates by a full percentage point and he reiterated his view that Chair Jerome Powell has been too slow to lower borrowing costs.

The president has repeatedly berated Powell for not cutting rates as he desires. The two men met face-to-face for the first time last week, with Trump telling Powell he was making a “mistake” by not lowering rates. REUTERS