The announcement caps an extensive search that started in September and was spearheaded by Treasury Secretary Scott Bessent, who presented final candidates to the president.

The Federal Open Market Committee kept the federal funds rate steady, following three rate cuts last year.

President Donald Trump, during an appearance at the premiere for the film "Melania," on Thursday, said that he will name his pick for the Federal Reserve Chair on Friday. Trump To Announce Fed Chair Pick On Friday "I'll be announcing the Fed chair tomorrow morning,

The Fed and chair Jerome Powell are likely to hold interest rates steady as he faces a criminal investigation launched by President Donald Trump's close ally.

President Donald Trump is expected to name his pick to lead the Federal Reserve any day now — and this has the potential to rock financial markets even more than the central bank's policy decision next Wednesday.

The U.S. central bank gave little indication in its latest policy statement of when borrowing costs might fall again

The main event for the crypto market on Wednesday is the Federal Reserve interest-rate decision, due at 2 p.m. Key volatility indexes, however, indicate that traders do not expect extraordinary price swings.

The US Federal Reserve, led by Jerome Powell, announced its interest rate decision on January 28, 2026, after a two-day meeting. The decision came after a recent 25-basis-point rate cut. Catch all LIVE updates here.