"President Trump plans to nominate Kevin Warsh to be the next chair of the Federal Reserve, in hopes that Warsh will follow his roadmap towards much lower interest rates. Trump has repeatedly complained that the current Fed Chairman, Jerome Powell, is too timid about cutting rates, even though the Fed is supposed to operate at arms length from the White House."
"Warsh served on the Fed's governing board from 2006 to 2011 after working as an economic adviser in the George W. Bush administration. He beat out other shortlist contenders for the Fed job, including National Economic Council director Kevin Hassett and Fed Governor Chris Waller."
""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," Trump wrote in a social media post. "On top of everything else, he is "central casting," and he will never let you down." Warsh will undoubtedly face questions during his confirmation hearing about whether he's willing to buck pressure from the president."
President Trump plans to nominate Kevin Warsh as the next Federal Reserve chair to push for much lower interest rates and replace Jerome Powell, whose term expires in May. Warsh served on the Fed's governing board from 2006 to 2011 and previously worked as an economic adviser in the George W. Bush administration. He beat other contenders including Kevin Hassett and Fed Governor Chris Waller. Warsh maintained strong Wall Street ties during the financial crisis, using contacts developed at Morgan Stanley, and now holds a visiting fellowship at Stanford's Hoover Institution. During his prior Fed term he frequently warned of inflation that did not materialize. He will likely face confirmation questions about resisting presidential pressure, while interest-rate decisions rest with a 12-member committee.
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