Trump to Announce Fed Chair Nominee Friday

The article discusses the mixed performance of Asia-Pacific markets on a particular Friday, influenced by various factors including U.S. political developments and global economic indicators. U.S. shutdown risk eased after President Donald Trump backed a Senate funding deal. Gold and silver prices fell after hitting record highs, with spot gold declining over 4% to $5,156.64 per ounce. The article also covers the performance of various stock indices in the region, including Japan's Nikkei 225, South Korea's Kospi, and Australia's S&P/ASX 200. Additionally, it mentions Trump's announcement regarding his choice for the next Federal Reserve chair and the impact of his statements on oil prices and the U.S. stock market.

European stock markets opened higher on Friday, with the Stoxx 600 index rising 0.2%, despite London's FTSE 100 shedding 0.2%. Corporate earnings remained in focus, with Adidas shares jumping 4.2% after the company reported a 13% increase in currency-neutral revenues for 2025. CaixaBank also reported a rise in net profit, beating analyst expectations. Geopolitics continued to be a concern, with U.S. President Donald Trump commenting on the U.K.'s dealings with China and Ukraine. U.S. stock futures slipped, and investors awaited Trump's announcement on the next Federal Reserve chair, with Kevin Warsh being the favorite to succeed Jerome Powell.

President Donald Trump announced that he will reveal his pick to replace Jerome Powell as Federal Reserve chair on Friday morning. The selection process began in September with 11 candidates, narrowed down to four finalists: Kevin Warsh, Kevin Hassett, Christopher Waller, and Rick Rieder. Trump hinted that the chosen candidate could have been considered for the role a few years ago, fueling speculation that Warsh might be the pick. Prediction markets favor Warsh as the likely candidate, with an 80% chance of getting the job.

President Donald Trump is expected to announce his intention to nominate Kevin Warsh as the next Federal Reserve chair on Friday. Trump has been considering the decision for several months and had narrowed down the candidates to four: Warsh, National Economic Council Director Kevin Hassett, BlackRock executive Rick Rieder, and Fed Governor Christopher Waller. Warsh met with Trump at the White House on Thursday and administration officials have been preparing for the announcement. Trump has been critical of the current Fed chair, Jerome Powell, and has shifted his view on the best candidate several times during the process. Warsh served as a Fed governor for five years after being nominated by President George W. Bush and has been considered for top economic roles in the Trump administration.

President Donald Trump announced that he will reveal his nominee for Federal Reserve chair on Friday morning. The decision has been highly anticipated and could lead to a confrontation over the independence of the US central bank. Trump has been critical of the current Fed Chair Jerome Powell, pushing for more aggressive interest rate cuts to boost economic growth. Trump's search for a replacement has been led by Treasury Secretary Scott Bessent, with four known finalists: Kevin Warsh, Christopher Waller, Rick Rieder, and Kevin Hassett. The chosen nominee is expected to be someone respected in the financial world. Meanwhile, Powell's term as chair ends in May, but he could remain on the Fed's board of governors until 2028, potentially blocking Trump's nominee from controlling the majority of the board.

President Trump is expected to announce Kevin M. Warsh as his choice to replace Jerome H. Powell as chair of the Federal Reserve. Mr. Warsh, a former Fed official, has deep ties to Wall Street and has supported lower interest rates. The announcement comes after an extensive search process led by Treasury Secretary Scott Bessent, who considered over 10 candidates. Mr. Trump's decision is seen as a move to exert influence over the Fed, which has been a frequent target of his criticism. Republican lawmakers have expressed concern over the administration's attempts to coerce the Fed into lowering borrowing costs.