Bloomberg reported that U.S. President Joe Biden is expected to unveil his decision on the next chairman of the Federal Reserve before he leaves for the Thanksgiving holiday vacation on Tuesday night.
On Sunday, the White House (WH) announced that the president would give a speech on the state of the U.S. economy and efforts to fight inflation on Tuesday, and, later in the day, he would travel with First Lady Jill Biden to Nantucket, Massachusetts, for Thanksgiving. The WH's statement did not mention the announcement of his pick for the Fed's top post.
However, the WH's press secretary Jennifer Psaki told reporters on Friday that she expected the U.S. president would announce his choice in advance of his departure for the holiday.
The current Fed chair Jerome Powell and Fed governor Lael Brainard remain major candidates to lead the U.S. central bank.