Warsh, 55, would replace current Fed Chairman Jerome Powell when his term is up. The pick was announced in advance of Powell’s departure in May, as expected by Fed watchers.
“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 said in his announcement Friday.
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Trump has railed against Powell for months, arguing that the Fed hasn’t lowered interest rates quickly enough. Warsh would likely push more aggressively for looser monetary policy.
Most Fed watchers had expected that Trump would either choose Warsh, BlackRock chief fixed income strategist Rick Rieder, or National Economic Council Director Kevin Hassett to lead the
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