Kevin Warsh has been nominated by Donald Trump to be the new head of the US central bank, the Federal Reserve.
Warsh, who served as a Fed governor from 2006 to 2011, had re-emerged in recent weeks as a potential choice for the top job as speculation grew over who would replace the under-fire incumbent, Jerome Powell.
The appointment is seen as a key moment for the Fed's independence, following Trump's increasing attacks on Powell in recent months.
Powell has angered Trump by not cutting interest rates quickly enough, and federal prosecutors recently opened a criminal investigation over testimony Powell gave to the Senate about renovations to Fed buildings.
The probe prompted an angry response from Powell and messages of support from former Fed chairs and central bank heads.
