President Donald Trump says he'll nominate former Federal Reserve governor Kevin Warsh to be the next Fed chair. Friday's pick is likely to result in sharp changes to the powerful agency that could bring it closer to the White House and reduce its longtime independence from day-to-day politics. Warsh would replace Jerome Powell when his term expires in May. Trump chose Powell to lead the Fed in 2017 but recently has assailed him for not cutting interest rates quickly enough. Warsh's appointment requires Senate confirmation. Warsh was on the Fed’s board from 2006 to 2011. He's a fellow at the right-leaning Hoover Institution and a lecturer at the Stanford Graduate School of Business.
