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President announces former Fed governor as his nominee to succeed Jay Powell
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President Trump announced Kevin Warsh as his nominee to succeed Jerome H. Powell as chair of the Federal Reserve. Our reporter Colby Smith explains why the choice matters for the economy.
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Mortgage rates didn't move after President Donald Trump announced his pick of Kevin Warsh as the next Federal Reserve chair.
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Warsh would replace current chair Jerome Powell when his term expires in May.
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Warsh, is a Stanford University graduate who earned his law degree from Harvard.
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Federal Reserve governor Chris Waller, who was one of President Donald Trump's finalists as the next central-bank chief, said Friday that the Fed should have cut interest rates this week because of a poor U.S. job market.
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President Donald Trump has selected Kevin Warsh to serve as the next chair of the Federal Reserve, putting a well-known critic of the U.S. central bank in its top job.
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President Trump has been pressing the Federal Reserve to cut interest rates more aggressively, but the central bank voted to hold rates steady for now, as it tries to bring down inflation.
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