Trump's Fed Chair Decision Looms Amid Rate Cut Debate

President Donald Trump announced on Friday that a decision regarding the new Federal Reserve chair is imminent, emphasizing that a favorable chairperson should lower interest rates. The president made his comments aboard Air Force One, amid ongoing speculation about his choice for the pivotal role.

Trump confirmed that former Fed governor Kevin Warsh is strongly considered for the position, describing him as "very highly thought of." Warsh is widely regarded as one of the leading contenders to replace current Fed Chair Jerome Powell.

Trump reiterated his stance that the Federal Reserve should reduce interest rates by a full percentage point, criticizing Powell for his slow approach to decreasing borrowing costs. The president met with Powell last week, where he conveyed his belief that the current chair is making a "mistake" in his policy decisions.

(With inputs from agencies.)