Trump Nominates Kevin Warsh as Federal Reserve Chair
President Donald Trump nominated former Federal Reserve Governor Kevin Warsh to be the next chair of the Federal Reserve, according to an announcement made Friday morning. The move comes after months of Trump publicly pressuring the Fed to cut interest rates.
Trump expressed confidence in his nominee, stating, "I am pleased to announce that I am nominating Kevin Warsh to be the Chairman of the Board of Governors of the Federal Reserve System... 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... he will never let you down."
Warsh, 55, previously served on the Fed's Board of Governors from 2006 to 2011. He is seen as a candidate who is friendly to markets and aligns with Trump's desire for dramatically lower interest rates, according to Time. Warsh reportedly met with Trump at the White House on Thursday. As a former Fed governor, Warsh has echoed the president's call for lower interest rates, according to NPR News.
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