Trump plans to name his Fed Chair choice on Friday

President Trump plans to announce his pick to replace Federal Reserve Chair Jerome Powell on Friday.  During his first Cabinet meeting of the year, the president said he will end the speculation over who will lead the central bank after Powell’s term expires this May with an announcement next week. Later, he said the news will come Friday. The president has been extremely critical of the Fed under Powell’s leadership, complaining that interest rates remain too high. Powell has insisted that the Fed stay independent of politics and make its choices based on inflation and job market data.