Trump picks crypto-friendly Kevin Warsh as new Fed chair

US President Donald Trump nominated former Fed Governor Kevin Warsh to replace Jerome Powell as Federal Reserve chair, setting up a Senate confirmation fight.

US President Donald Trump said Friday he will nominate former Federal Reserve Governor Kevin Warsh to succeed Jerome Powell as chair of the US central bank, setting the stage for a high-stakes Senate confirmation battle.

The decision, announced by Trump on his social media platform Truth Social, confirmed Thursday reports that Trump would move ahead with the 55‑year‑old ex–Fed official and Morgan Stanley banker as his preferred candidate.

The president said that he had known Warsh for a long time and had “no doubt” that he would go down as “one of the “GREAT Fed chairmen, maybe the best.”

Read more