President Donald Trump’s hunt for a Federal Reserve chair who will argue his case for lower interest rates is drawing to a close.
The president is expected to choose former Fed Governor Kevin Warsh, The New York Times and other outlets reported late Thursday.
The president said he would announce his pick this morning, concluding a process that spanned at least four months, nearly a dozen candidates, and endless speculation about whom investors trust to safeguard the central bank’s independence, particularly after the Justice Department opened a criminal investigation into Chair Jerome Powell.
Trump pivoted away from one finalist, adviser Kevin Hassett, amid skepticism that Hassett would be able to distance himself from the White House. Whoever Trump picks has no current path to confirmation: Sen. Thom Tillis, R-N.C., is still committed to blocking the nominee over the DOJ’s Powell probe.