Kevin Warsh was originally nominated to head the Fed. Pending Senate approval, the Fed’s independence is under intense debate.
RNE Network.
U.S. President Donald Trump has nominated former Federal Reserve governor Kevin Warsh to be the next chief of the U.S. central bank, a move that has sparked cautious optimism among observers.
Trump had also considered Warsh for the top Federal Reserve post during his first presidency but ultimately chose Jerome Powell, a decision he later came to regret. Warsh was the youngest person to serve as a Federal Reserve governor, holding the position from 2006 to 2011.
The next step in the process is confirmation by a closely divided Senate. The Federal Reserve has long been regarded as a stabilising force in global financial markets, largely because of its perceived independence from political influence. Trump’s growing efforts to test that independence are expected to be a key issue during the approval process.
