Trump nominates Kevin Warsh to be next Federal Reserve chair

President Donald Trump has announced his nominee for the next chair of the Federal Reserve. He has picked Kevin Warsh, a former member of the Federal Reserve's board of governors, to replace the current chair, Jerome Powell.

If confirmed by the Senate, Warsh would take over leadership of the central bank, which sets interest rates for the United States. The nomination marks a significant change in who will lead the country's monetary policy.