President Donald Trump has nominated Kevin Warsh, a former Federal Reserve governor, to become the next Chair of the U.S. Federal Reserve, succeeding Jerome Powell when his term ends in May 2026. Warsh served on the Fed’s Board from 2006–2011 and is known for his experience during the 2008 financial crisis and for earlier criticism of the central bank’s policies. Trump’s pick aligns with his push for lower interest rates and economic growth. However, Warsh still needs Senate confirmation, and the process could be contentious given debates over Fed independence and monetary policy direction.
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