Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning.

It's good to be with you on this Friday, January 30th, the final day of the trading month.

I'm Julie Morgan.

The Trump administration is preparing for the president to name a new chair of the Federal Reserve.

Reports say that President Trump will nominate Kevin Warsh to succeed Jerome Powell.

President Trump told reporters on Thursday evening that he plans to announce his pick to lead

the U.S. Central Bank this morning.

It is important to note that earlier in the day on Thursday at a cabinet meeting,

the president said he would announce the pick next week. Warsh, who has long been among the

favorites for the Fed position, is considered a relatively hawkish choice. If nominated and confirmed,

he would succeed Powell, whose term ends in May. We're taking a deeper look at this

story in the Wall Street Breakfast newsletter. The link to sign up is in the show notes section.

Grubhub is removing service and delivery fees on restaurant orders over $50. The new policy is already

in place for some users, but a broader launch is set for February 2.

With free delivery already offered to paid subscribers, Grubhubhub hopes that with this new policy,

consumers will switch from DoorDash and Uber Eats. Both companies charge a delivery fee of as

much as $8 along with a 10 to 15% service fee.

Also, Uber Eats charges another $2 for orders below $10.

Grubhub is also hoping to avoid checkout abandonment,

in which customers drop large orders with high delivery fees.

DoorDash carries 71% of this market. Uber eats 23% and Grubhub only 4%.

The news briefly weighed on shares of Uber Technologies and DoorDash, though both recovered modest losses and were higher at Thursday's close.

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