Summary
President Donald Trump plans to nominate Kevin Warsh as the next chair of the Federal Reserve. Warsh would replace Jerome Powell when his term ends in May, if the Senate confirms him.
Key Facts
- President Trump nominated Kevin Warsh for Federal Reserve chair.
- The Federal Reserve is an independent agency that influences interest rates.
- Warsh would take over from current Fed Chair Jerome Powell.
- Jerome Powell was also nominated by President Trump previously.
- President Trump has been pushing for lower interest rates.
- Warsh's confirmation depends on Senate approval.
- Powell's term as chair ends in May.
