US Fed Chairman LIVE Updates: The President of the United States, Donald Trump, is set to announce a new Chairman candidate for the US Federal Reserve to replace existing Chair Jerome Powell as his designated term as the head of the central bank nears an end.
Donald Trump said that he will be announcing the new Federal Reserve Chairman on Friday, 30 January 2026, amid his repeated pleas asking for further rate cuts in the US economy.
“I’ll be announcing the Fed chair tomorrow morning,” said Trump at the Kennedy Centre on Thursday, 29 January 2026.
President Trump’s statement comes a day after the US Federal Reserve’s FOMC (Federal Open Market Committee) decided to keep the key benchmark rates for the US economy steady.
US Fed’s January policy outcome
On Wednesday, 28 January 2026, the Jerome Powell-led FOMC kept the key benchmark interest rates steady at the range of 3.50-3.75% as the central bank plans to carefully assess incoming data, the evolving outlook, and the balance of risks.
Out of the 12 members, 10 members voted in favour of the Fed’s rate hold decision for the interest rates, while the other two, Stephen Miran and Christopher Waller, voted for a 25-basis-point rate cut.
“In support of its goals, the Committee decided to maintain the target range for the federal funds rate at 3-1/2 to 3-3/4 per cent. In considering the extent and timing of additional adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks,” according to the official statement.
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