President Donald Trump indicated he would likely nominate a temporary Federal Reserve governor to fill the soon-to-be vacant seat on the central bank’s board within the coming days, rather than use the seat to signal his choice to replace Jerome Powell as chairman.

President Trump said he would announce later this week his pick to fill an unexpected vacancy on the Federal Reserve’s board and that he was leaning toward a short-term appointment rather than nominating someone who could next year succeed Fed Chair Jerome Powell.