White House formally nominates Warsh to be Federal Reserve chair

The Trump administration has formally nominated Kevin Warsh, a former top Federal Reserve official, to be next Fed chair when Jerome Powell’s term ends in two months. Warsh’s nomination, which was initially announced Jan. 30, was forwarded to the Senate Wednesday, where it will be taken up by the Senate Banking Committee. Yet the nomination could stall there. Sen. Thom Tillis, a North Carolina Republican on the committee, has said he will oppose confirming Warsh until a criminal investigation into Powell is resolved.