Trump formally nominates Kevin Warsh as Fed Chair

US President Donald Trump has formally nominated Kevin Warsh to serve as chair of the Federal Reserve, the White House said in a statement on Wednesday.

If confirmed by the United States Senate, Warsh would replace current Fed Chair Jerome Powell, who is set to step down in May, for a four-year term.

The formal nomination comes more than a month after Trump signaled his intention to select Warsh for the role, ending speculation over the timing of the move.

Warsh, a former member of the Fed’s board of governors, is known for views that sometimes favor policies supporting stronger economic growth while maintaining a firm stance on inflation.