New Delhi, Dec. 2 -- US President Donald Trump on Tuesday stated that he would announce his pick to replace outgoing Federal Reserve Chairman Jerome Powell "early next year".

"We'll be announcing somebody probably early next year for the new chairman of the Fed," Trump said in a cabinet meeting as per AFP.

The US President's latest comment on appointing Powell's replacement comes days after he told reporters on board Air Force Once that he had decided on his pick for the top post at the Fed.

Trump, however, did not reveal who his preferred candidate was.

(This is a developing story. Check back for updates)

Published by HT Digital Content Services with permission from MINT....