President Donald Trump said Friday he will nominate former Federal Reserve governor Kevin Warsh to replace Jerome Powell as Fed chair when Powell’s term ends in May. “I am pleased to announce that I am nominating Kevin Warsh,” Trump wrote, praising him as potentially “one of the GREAT Fed Chairmen.”
Warsh, 55, previously served on the Fed board and has recently signaled support for lower interest rates after years as an inflation hawk. His nomination heads to the Senate amid concerns over political pressure on the Fed and an ongoing criminal investigation involving Powell, which could complicate confirmation hearings.