Trump to announce Fed chair next week

United States President Donald Trump on Friday confirmed that he will announce his choice for chairman of the Federal Reserve next week, signaling the end of a months-long selection process to determine the nation's next top central banker.

Confirming the news through an Instagram video, Trump said that he has a "specific person" in mind for the post.

Reportedly, the president recently narrowed the pool of candidates down to three- Jerome Powell, a current governor of the Federal Reserve; John Taylor, a Stanford University economist widely viewed as the most conservative of Trump's top candidates; and Janet Yellen, the current Fed Chair, whose term expires in February, 2018.