President Donald Trump announced on Friday that he has chosen former Federal Reserve Governor Kevin Warsh to become the next chair of the US central bank. Warsh will take over from Jerome Powell, whose term is set to expire in May.
Kevin Warsh previously served on the Federal Reserve Board of Governors and has experience in both public service and finance. The appointment requires Senate confirmation before Warsh can officially assume the role.
**Why this matters**
The Federal Reserve chair plays a critical role in shaping US monetary policy, influencing interest rates, inflation, and overall economic stability. A change in leadership can signal shifts in policy direction, affecting markets and the broader economy.
Source: News Source