President Donald Trump said he plans to announce his selection to lead the Federal Reserve in early 2026, fueling further speculation about the next leader of the U.S. central bank.

"We'll be announcing somebody, probably early next year, for the new chairman of the Fed," Trump said Tuesday during a Cabinet meeting at the White House.

Trump's comments offer a clearer timeline for the announcement. Treasury Secretary Scott Bessent, who has been overseeing the selection process, previously said the pick could be revealed around Christmas.

The president on Sunday told reporters he knew who he would nominate, without offering further details.

Trump for months has pressured the Fed to lower interest rates, and naming a successor to Jerome Powell, whose term as Fed chair expires in May, woul

See Full Page