President Donald Trump has officially nominated Kevin Warsh to serve as the next Federal Reserve chair.
If confirmed by the Senate, Warsh would replace current Fed Chair Jerome Powell and serve a four-year term leading the nation’s central bank.
The White House said the nomination was sent to the Senate in a statement posted online Wednesday.
The move comes more than a month after Trump first publicly announced he wanted Warsh to head the Federal Reserve.
The nomination also comes amid an ongoing dispute involving Powell.
Sen. Thom Tillis, R-N.C., has said he will block Warsh’s nomination from advancing in the Senate until a federal criminal investigation of Powell by the Washington, D.C. U.S. Attorney’s Office is shelved.
Tillis’ position could prevent the nomination from reaching the Senate floor.
In mid-January, Powell said he was under investigation in connection with the $2.5 billion renovation of the Federal Reserve’s headquarters in Washington and his Senate testimony about the project.
Nicole Weatherholtz ✉
Nicole Weatherholtz, a Newsmax general assignment reporter covers news, politics, and culture. She is a National Newspaper Association award-winning journalist.
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