President Donald Trump's administration has made up its mind regarding who will replace the outgoing Federal Reserve chairman, according to a new report.
Bloomberg reported on Thursday that the Trump administration is preparing to elevate Kevin Warsh to the Federal Reserve Chairman role once Jerome Powell's tenure ends in May. Warsh was a finalist for the role in 2017 when Trump initially picked Powell for the job. However, Trump and Powell have clashed on a number of issues since then, including the Federal Reserve's insistence on keeping interest rates high to combat inflation.
Trump is expected to officially announce Warsh as Powell's replacement on Friday.
CNN previously noted that Warsh "may be too independent" for Trump's liking.