Trump picks former Federal Reserve governor Kevin Warsh as next chairman
US President Donald Trump nominated Kevin Warsh, a former Federal Reserve governor, on Friday to be the next US central bank chief.The decision caps a closely watched search for a successor to Fed Chair Jerome Powell, whom the president has repeatedly lambasted for not cutting interest rates more swiftly."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," Trump wrote on his Truth Social platform.Stay up to date with the latest news. Follow KT on WhatsApp Channels."On top of everything else, he is 'central casting,' and he will never let you down." Trump told reporters Friday that Warsh "certainly wants to cut rates," but added that he did not wish to question Warsh on commitments to do so.Warsh, 55, was the youngest person to serve as a Fed governor, a role he held from 2006 to 2011.Trump considered Warsh for the top Fed job too during his first presidency, but eventually chose Powell -- a decision he quickly soured on.[With AFP inputs]Investors anxious over make-or-break fight for the FedNext Fed chair in ‘no-win scenario’ as selection process draws to a close
US President Donald Trump nominated Kevin Warsh, a former Federal Reserve governor, on Friday to be the next US central bank chief.
The decision caps a closely watched search for a successor to Fed Chair Jerome Powell, whom the president has repeatedly lambasted for not cutting interest rates more swiftly.
"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," Trump wrote on his Truth Social platform.
Stay up to date with the latest news. Follow KT on WhatsApp Channels.
"On top of everything else, he is 'central casting,' and he will never let you down."
Trump told reporters Friday that Warsh "certainly wants to cut rates," but added that he did not wish to question Warsh on commitments to do so.
Warsh, 55, was the youngest person to serve as a Fed governor, a role he held from 2006 to 2011.
Trump considered Warsh for the top Fed job too during his first presidency, but eventually chose Powell -- a decision he quickly soured on.
[With AFP inputs]
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