Trump Selects Kevin Warsh as Fed Chair to Replace Jerome Powell

Donald Trump nominated former Federal Reserve governor Kevin Warsh to replace Jerome Powell as the chair of the central bank when his term expires in May.The appointment follows repeated demands from Donald Trump for the central bank to aggressively lower interest rates to approximately 1% from current levels.While financial markets responded with a stronger dollar, the nomination faces a difficult path in the Senate as Thom Tillis and Elizabeth Warren raised various objections.