Trump says he will soon announce new Fed chair

US President Donald Trump said Wednesday that he plans to soon announce the new chair of the Federal Reserve (Fed), as he continued to criticize current Chair Jerome Powell.

"I'll be announcing a new Fed chairman in the not just future. I think he'll do a very good job," Trump said at the World Economic Forum (WEF) in Davos, Switzerland.

He renewed his long-running criticism of Powell, accusing him of acting too slowly on interest rate decisions.

"We have a terrible chairman right now, Jerome, too late Powell, he's always too late, and he's very late with interest rates, except before the election, he was just fine the other side.

"We were going to have somebody that's great, and we hope he does the right job," he said.