Fed Holds Interest Rates Steady
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Jerome Powell will announce the central bank's next interest rate decision on Jan. 28 amid political and legal turmoil involving the Fed.
Trump told reporters he will make the announcement on Friday morning, and said his pick is someone "a lot of people think...that could’ve been there a few years ago.”
Despite his former reputation as an inflation hawk, Warsh has shown support for lower rates in recent months, suggesting he is more likely to align with the president than Jerome Powell. View on euron
The Dow, S&P 500, and Nasdaq are falling in premarket trading as the stock market braces for President Donald Trump's pick for next chair of the Federal Reserve.
President Trump said he will announce Friday morning his nominee for Federal Reserve chair to replace Jerome Powell, whose term ends later this year.
The dollar recovered slightly on Wednesday as traders awaited the US Federal Reserve's outlook on interest rates, while gold reached another record high as investors seek safety amid an uncertain