"WASHINGTON (AP) - President Donald Trump said Friday that he will nominate former Federal Reserve official Kevin Warsh to be the next chair of the Fed, a decision likely to result in sharp changes to the powerful agency that could bring it closer to the White House. Warsh would replace current chair Jerome Powell when his term expires in May. Trump chose Powell to lead the Fed in 2017 but this year has relentlessly assailed him for not cutting interest rates quickly enough."
"The appointment, which requires Senate confirmation, amounts to a return trip for Warsh, 55, who was a member of the Fed's board from 2006 to 2011. He was the youngest governor in history when he was appointed at age 35. He is currently a fellow at the right-leaning Hoover Institution and a lecturer at the Stanford Graduate School of Business."
President Trump announced the nomination of Kevin Warsh as the next Federal Reserve chair, with Warsh set to replace Jerome Powell when Powell's term ends in May. The nomination requires Senate confirmation and would return Warsh to the Fed after serving as a governor from 2006 to 2011. Warsh was the youngest governor when appointed at 35 and currently holds positions at the Hoover Institution and Stanford. Warsh has historically been a rate hawk, criticizing low-rate policies after the 2008-09 recession and expressing inflation concerns, though he has recently voiced support for lower rates.
Read at Boston.com
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