Trump picks Kevin Warsh to lead the US Federal Reserve6 hours agoShareSaveDanielle KayeandNick Edser,Business reportersShareSaveReutersUS President Donald Trump has picked Kevin Warsh to lead the US Federal Reserve when current chairman Jerome Powell's four-year term ends in May.Warsh is a former Fed governor and was considered for chair during Trump's first term. He has been an outspoken Fed critic and is expected to support lower interest rates in the near term.The appointment comes amid mounting worries about the Fed's independence, following Trump's increasing attacks on Powell in recent months.Powell has angered Trump by not cutting interest rates quickly enough, and federal prosecutors recently opened a criminal investigation over testimony he gave to the Senate about renovations to Fed buildings.The Department of Justice (DoJ) probe prompted a forceful condemnation from Powell and messages of support from former Fed chairs and central bank heads.Warsh, who served as a Fed governor from 2006 to 2011, had re-emerged in recent weeks as a potential choice for the top job as speculation grew over who would replace the under-fire incumbent.Announcing the nomination on Truth Social, Trump said Warsh "will go down as one of the GREAT Fed Chairmen, maybe the best".Warsh's appointment still needs to be approved by the Senate, meaning it could face lengthy delays.If confirmed for the role, he will take the helm of the Fed at an unusually tense time, as economists and Wall Street
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