Summary
President Donald Trump has nominated Kevin Warsh to lead the Federal Reserve. Warsh, who was a Fed governor from 2006 to 2011, could replace Jerome Powell, who is facing criticism from Trump. Warsh's appointment must be approved by the Senate before he can take the position.
Key Facts
- Kevin Warsh has been nominated by President Trump to head the Federal Reserve.
- Warsh was a Federal Reserve governor from 2006 to 2011.
- Jerome Powell, the current Fed chair, has faced criticism from Trump for not lowering interest rates quickly enough.
- A criminal investigation has been opened over Powell's testimony about Fed building renovations.
- Warsh has been critical of the Fed, advocating for changes like reducing its balance sheet.
- Warsh is seen as supportive of lowering interest rates soon.
- The Senate must approve Warsh's appointment before he can become Fed chair.
- Warsh is connected to Trump's circle, as his father-in-law is a Trump donor.
