CNBC Daily Open: We'll soon find out who the new Fed chair is

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Taken from CNBC’s Daily Open, our international markets newsletter — Subscribe today

The current moment feels like the finale of a reality TV show, when the world learns who the winner of the competition is. This time, the victor won’t be walking away with $1 million — but influence the $112 trillion world economy.

U.S. President Donald Trump said Thursday that he will announce his pick for the next chair of the Federal Reserve on Friday morning stateside. Former Fed Governor Kevin Warsh is by far the favorite, according to prediction market Kalshi — and an administration source told CNBC that Warsh was at the White House on Thursday.

At the same event where Trump made those comments — on the sidelines of the premier of the “Melania” film — he also warned the U.K. that it would be “very dangerous” for the country to do business with China, Reuters reported. This came as U.K. Prime Minister Keir Starmer was visiting China, where the two sides reached deals on tariffs, visa-free travel and business investment, according to Downing Street.