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The announcement is expected on Friday morning. Bloomberg: *TRUMP ADMINISTRATION SAID TO BE PREPARING WARSH FED NOMINATION --- The scuttlebutt is they were indeed looking for "door #5," And Scott Bessent even met with @judyshel on Monday (but not Trump). In the end, they couldn't find a better candidate, so (my characterization) Trump held his nose, met with Warsh again this morning, and picked him from the four finalists. Warsh has been a favorite for many months. So, why did it take such a torturous process to arrive at an early favorite? Because while Warsh has credibility and can (presumably) pass Senate confirmation, Trump could not be sure he shared his belief that rates need to be cut immediately and aggressively (see Trump's Truth Social post earlier today). It will be interesting to see how Trump presents Warsh at the nomination announcement on Friday morning. Does he threaten him (directly or subtly) that there will be "consequences" if he does not aggressively cut rates? Does Warsh give a full-throated endorsement for the need to immediately and aggressively cut rates? @MarkHalperin