President Donald Trump stated that he will announce his nominee for the next Chair of the Federal Reserve "next week," reiterating his desire for the new central bank leader to lower interest rates.

"We will be announcing next week," Trump said Thursday during a cabinet meeting, "We will be announcing the head of the Fed, who it will be, and I think that person will do a good job."

The Federal Reserve's decision on Wednesday to leave interest rates unchanged once again angered Trump. For months, he and his allies have been pressuring the central bank and its Chair, Jerome Powell, with the Justice Department even initiating an investigation into the renovation of the Fed's headquarters building. Critics argue that Trump's actions undermine the Fed's ability to set interest rates independently, free from political pressure.

"The interest we're paying at the Fed is just too high," Trump said Thursday, "We should have the lowest interest rates in the world. They should be two or even three points lower."

Trump is reportedly considering four final candidates for the position: White House National Economic Council Director Kevin Hassett, Federal Reserve Governor Christopher Waller, former Governor Kevin Warsh, and BlackRock executive Rick Rieder. The search for the new chair is being led by Treasury Secretary Scott Bessent.

Whoever Trump selects, the nominee is likely to face a challenging confirmation process in the Senate. Republican Senator Thom Tillis, who sits on the Banking Committee, has already stated that he would block any presidential nominee for a central bank position until the administration's investigation into the Fed is concluded.