President Donald Trump is all set to nominate Kevin Warsh to be the next chair of the Federal Reserve, succeeding the independent-minded Jerome Powell.
Warsh, 55, is a financier and bank executive who previously served as a member of the Federal Reserve Board of Governors. He is married to the American billionaire heiress and businesswoman Jane Lauder, whose grandparents founded the Estée Lauder cosmetics company. They met at Stanford University.
Trump said at the Melania screening on Thursday he would announce his new chair appointee on Friday morning, but stopped short of naming them.
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