U.S. President Donald Trump said on Tuesday he will decide on a nominee to fill a coming vacancy on the Federal Reserve's Board of Governors by the end of the week, and had separately narrowed the possible replacements for Fed chair Jerome Powell to a short list of four.

The list of candidates to succeed Fed Chair Jerome Powell has been cut down to four after Treasury Secretary Scott Bessent dropped out of consideration, President Donald Trump said Tuesday amid his growing feud with Powell over the agency’s decision to hold interest rates.

President Trump said he has four finalists in mind to replace Fed Chair Jerome Powell while ruling out Treasury Secretary Bessent as a possibility.