Trump to announce pick for Fed chair next week

President Trump will announce his nominee for chairman of the Federal Reserve next week, White House press secretary Sarah Huckabee Sanders told reporters on Friday.

The White House did not give any clues about who it might be.

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Trump has said he is considering keeping current chairwoman Janet Yellen, whose term expires in February. But he has also mentioned Federal Reserve governor Jerome Powell and Stanford University economist John Taylor as potential replacements.

The president touts job growth and stock market gains as one of the primary achievements of his first year in office and his pick for Fed chairman will play a huge role in shaping U.S. economic policy going forward.