Trump taps Kevin Warsh as next Fed chair

Following months of speculation, President Donald Trump has nominated Kevin Warsh to serve as the Chairman of the Board of Governors for the Federal Reserve.

The president made the announcement Friday morning in a Truth Social post, saying he has known him for a “long period,” arguing that Warsh “will go down as one of the GREAT Fed Chairmen, maybe the best. On top of everything else, he is ‘central casting,’ and he will never let you down.”

If confirmed, Warsh will replace current Fed chair Jerome Powell when his term ends in May. The current Fed chair was appointed by Trump in 2018, but has since fallen out of favor with the president over his reluctance to lower interest rates, with Trump coining him with the nickname, “Too Late Powell.”

Warsh, 55, currently serves as the Shepard Family Distinguished Visiting Fellow in Economics at the Hoover Institution, a lecturer at Stanford University Graduate School of Business, and a partner at Stanley Druckenmiller at Duquesne Family Office LLC, according to a Truth Social post from Trump...