Jan. 30 (UPI) -- President Donald Trump announced Friday that he has nominated Kevin Warsh to be the next chair of the Federal Reserve Board, replacing Jerome Powell.
Powell's term as chair ends in May, but he still has two years as a Fed governor. Usually, chairs resign their governor terms after their chair term ends. But it's unknown if he will, following the pressure campaign to lower interest rates by Trump.
Trump announced the pick on Truth Social Friday.
"I am pleased to announce that I am nominating Kevin Warsh to be the CHAIRMAN OF THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM. Kevin currently serves as the Shepard Family Distinguished Visiting Fellow in Economics at the Hoover Institution, and Lecturer at the Stanford Graduate School of Business. He is a Partner of Stanley Druckenmiller at Duquesne Family Office LLC," the president said.
He then listed more highlights from Warsh's resume.
