India, Jan. 30 -- President Donald Trump on Friday announced that he is nominating Kevin Warsh to replace Jerome Powell as his Fed Chair pick. The 55-year-old, who previously served on the US central bank's Board of Governors, will need to be confirmed by the Senate before his appointment becomes official. However, the vote is complicated.

"I have known Kevin for a long period of time, and have no doubt that he will go down as one of the GREAT Fed Chairmen, maybe the best," Trump wrote on his Truth Social platform. "On top of everything else, he is 'central casting,' and he will never let you down," he added.

No, Jerome Powell was fired. His term at the helm ends in May. But he can remain on the Fed board, acting as a rank-and-file memb...