Trump nominates Kevin Warsh as next Fed chair
U.S. President Donald Trump announced on Friday that he is nominating Kevin Warsh, a former Federal Reserve governor, to be the next chair of the central bank, Xinhua reported.
The nomination, which came two days after the Fed's decision to keep the federal funds rate unchanged at 3.5 percent to 3.75 percent, needs to be confirmed by the U.S. Senate.
"I have known Kevin for a long period of time, and have no doubt that he will go down as one of the GREAT Fed Chairmen, maybe the best," said Trump in his Truth Social post announcing the selection.
"On top of everything else, he is 'central casting,' and he will never let you down," Trump said.
Warsh, 55, currently serves as the Shepard Family Distinguished Visiting Fellow in Economics at the Hoover Institution and a lecturer at the Stanford Graduate School of Business. He is also a partner of Stanley Druckenmiller at Duquesne Family Office LLC.
Warsh became the youngest Fed Governor at 35, and served as a member of the board of governors of the Federal Reserve System from 2006 until 2011.
Fed Chair Jerome Powell was nominated by Trump in November 2017. His second four-year-term as Fed chair will end in May 2026
