Former Federal Reserve Governor Kevin Walsh has been nominated by President Donald Trump to be the next chair of the Federal Reserve.
He is set to replace Jerome Powell whose leadership term ends in May.
Walsh, who joined the Central Bank in 2006, is known for his extensive Wall Street connections.
Trump announced the news on Truth Social, praising Walsh’s lengthy experience in economics and finance.
When asked if he would pressure the new chair to cut rates, Trump stated it would be inappropriate but expressed confidence in Walsh’s qualifications and love for the country.
