"It will be a person who hopefully will do a fantastic job," Trump said in a video posted on Instagram, advertising that he would announce his choice "sometime next week." White House spokesperson Sarah Huckabee Sanders had earlier in the day confirmed the president's plans without providing detail. In the running are current Fed chair Janet Yellen, who has kept benchmark interest rates low, fueling Trump's much-vaunted stock-market surge. But Stanford University economist John Taylor, who is known to favor higher interest rates, is also a possible pick. Another candidate, Kevin Warsh, is a former Fed governor, a proponent of higher interest rates and a son-in-law of Trump associate Ronald Lauder.

Source: The Nation Bangkok October 27, 2017 22:52 UTC