Trump nominates Kevin Warsh to replace Powell as Fed chair
Al Jazeera
Nomination comes as Trump heaps pressure on Powell to cut interest rates; Warsh to face challenging Senate confirmation.
United States President Donald Trump has nominated former Federal Reserve Governor Kevin Warsh to head the US central bank when current Federal Reserve Chair Jerome Powell’s term ends in May.
The announcement on Friday caps a months-long, highly publicised search for a new chair of the Federal Reserve, widely regarded as one of the most influential economic officials in the world.
It comes amid Trump’s public pressure campaign on Powell, whom he appointed during his first term but has repeatedly condemned for not cutting interest rates at the pace the president would like.
“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 posted on his Truth Social site. “On top of everything else, he is ‘central casting,’ and he will never let you down.”
The statement referenced the apparent compromise Warsh represents. The 55-year-old is known to be in Trump’s orbit and has recently called for lower interest rates, although he is expected to stop short of the more aggressive easing associated with some other potential candidates for the job.
Palestinians ‘desperate’ for Rafah crossing to open as prolonged closures compound widespread suffering, warns the UN.
The president renews his threat, saying Tehran can either negotiate ‘a fair and equitable deal’ or face a US armada.
Israel’s war has devastated enclave’s reproductive health system; advocates call it a genocidal measure.
India tells platforms to curb 10-minute deliveries amid concerns for workers’ safety but there’s no incentive to comply.
Omar was sprayed with an unknown substance during the attack by a man, who was then tackled to the ground.
Iranian President Masoud Pezeshkian emphasised that regional instability ‘benefits no one’ during the call.
Trump set to attempt to pivot Republican messaging as he shows signs of softening on deadly Minnesota operation.
Shootings of Alex Pretti and Renee Nicole Good are two of at least nine deaths related to immigration enforcement in US.
Many Syrians feel liberated by the army pushing out the Kurdish-led SDF. But others fear government troops.
USS Abraham Lincoln carrier’s arrival is ‘not going to affect Iran’s determination to defend the nation’, Tehran warns.
US President Donald Trump refers to a ‘sonic weapon’ he describes as a ‘discombobulator’, but what is he talking about?
The so-called yellow line has been squeezing Palestinians into smaller areas, making their lives more difficult.
The Israeli military says it launched a ‘targeted operation’ in northern Gaza to find the last captive’s body.