Trump to name Fed chair nominee Friday, following Powell’s rate decision and call for independence.

President Donald Trump announced he will name his nominee to succeed Federal Reserve Chair Jerome Powell on Friday during the premiere of the documentary "Melania" at The Kennedy Center in Washington, D.C. He described the nominee as a respected and well-known figure in finance, not surprising to the public, and on his "reasonably" short list. The announcement follows Powell’s decision to maintain interest rates at 3.6% after three rate cuts in 2025. Powell advised the next chair to avoid political involvement, emphasizing the Fed’s need for independence. The film, directed by Brett Ratner and acquired by Amazon for $40 million, chronicles First Lady Melania Trump’s return to the White House over 20 days.