Trump to name Kevin Warsh as new Federal Reserve Chair

President Donald Trump plans to nominate Kevin Warsh

to the board of the Federal Reserve as a governor and the next chair of the central bank.

If confirmed by the Senate, Warsh would succeed Jerome Powell, whose tenure as chair ends in May.

Trump announced the nomination in a post on social media this morning.

The appointment, which requires Senate confirmation, amounts to a return trip for Warsh, 55, who was a member of the Fed’s board from 2006 to 2011. He was the youngest governor in history when he was appointed at age 35. He is currently a fellow at the right-leaning Hoover Institution and a lecturer at the Stanford Graduate School of Business.

"I have known Kevin for a long period of time, and have no doubt that he will go down as one of the GREAT Fed Chairmen, maybe the best," Trump wrote.

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