President Donald Trump said Thursday he will announce his pick to replace Federal Reserve Chairman Jerome Powell on Friday. Speaking to reporters on the red carpet for first lady Melania Trump’s new movie, "Melania," Trump was asked how soon he would name a new Fed chair. Before joining the Fed, Warsh was a senior economic adviser to President George W. Bush and earlier built a career on Wall Street at Morgan Stanley. He was among Trump’s leading candidates to replace former Fed Chair Janet Yellen in 2017 before Trump ultimately selected Powell. FED HOLDS INTEREST RATES STEADY, PAUSING RATE CUTS AMID ECONOMIC UNCERTAINTY"He is costing America Hundreds of Billions of Dollars a year in totally unnecessary and uncalled for INTEREST EXPENSE," Trump wrote on Truth Social.