President Trump announced plans to nominate Kevin Warsh as the next chair of the Federal Reserve, selecting a former central bank official who has echoed the president’s criticism of the Fed’s recent handling of monetary policy and its role in the surge in inflation over the past several years. Warsh served on the Fed’s Board of Governors from 2006 to 2011 and, if confirmed by the Senate, would succeed Jerome Powell when his term expires in May.
Long viewed as an inflation hawk for warning that accommodative monetary policy could fuel higher prices, Warsh has morerecently argued that the Fed should move more quickly to cut interest rates.