Trump Taps Kevin Warsh as His Pick to Lead Federal Reserve

President Donald Trump has named Kevin Warsh as his pick to be the next chair of the Federal Reserve. Trump announced the decision in a social media post Friday morning, calling Warsh someone who "will go down as one of the great Fed Chairmen."

A senior White House official told NBC News that Warsh was offered the job on Wednesday during an Oval Office meeting. The 55-year-old served on the Federal Reserve Board of Governors from 2006 to 2011 and was widely seen as a leading candidate for the position heading into the announcement.

If confirmed by the U.S. Senate, Warsh would succeed current Fed Chair Jerome Powell, whose term ends in May. Trump has repeatedly criticized Powell for resisting calls to dramatically lower interest rates.