Trump administration set to nominate Kevin Warsh as next Fed chair

The Trump administration is reportedly preparing to nominate former Federal Reserve Governor Kevin Warsh as the next Fed chair, according to sources familiar with the situation. Warsh's potential selection aligns with President Trump's desire for lower interest rates as current Chair Jerome Powell's term concludes in May. Warsh, 55, visited the White House on Thursday. However, the nomination could face hurdles, as Senator Thom Tillis has threatened to block any Fed nominee pending a resolution to a Justice Department probe concerning the central bank's headquarters renovation. Warsh previously served as a Fed governor from 2006 to 2011, played a key role during the 2008 financial crisis, and previously worked at Morgan Stanley and in the Bush White House. Despite some past hawkish views on monetary policy, he has recently sided with Trump on cutting rates.

(Source：Crypto Briefing)