Nick Timiraos, a Wall Street Journal reporter known as the "Fed's mouthpiece," pointed out that U.S. President Trump has been saying for months that he has decided who will lead the Federal Reserve. However, as weeks passed without an official announcement, some people close to the selection process began to doubt whether the four final candidates truly meet his requirements.

The difficulty lies in what Trump wants: a new chairman who can both implement his demand for significant rate cuts and have enough credibility on Wall Street and among colleagues to carry out these policies may simply not exist.

Trump and Bessent have been hinting for weeks that the announcement is imminent, but this claim has changed so many times that some close to the process have started to suspect that Trump is looking for something he will never find.

Timiraos expects the Fed to keep interest rates unchanged when it concludes its two-day meeting on Thursday. This decision is likely to trigger a new round of criticism from Trump, who has declared inflation defeated and called for substantial rate cuts.