President Donald Trump has nominated former Federal Reserve governor Kevin Warsh to be the next chair of the Federal Reserve, succeeding Jerome Powell when his term ends in May 2026, according to Reuters live updates.
Warsh, 55, served on the Fed’s Board of Governors from 2006 to 2011 and is seen as a critic of some of the central bank’s recent policy choices. His nomination marks a potential shift in monetary policy direction and comes after months of speculation and internal debate.
Investment markets reacted cautiously to the announcement, with U.S. stock futures sliding ahead of the official naming.
Warsh’s nomination must be confirmed by the Senate, where he is expected to face scrutiny from lawmakers on both sides of the aisle before he can assume the role of Fed chair.
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