New Delhi, Jan. 30 -- US President Donald Trump, on Friday, nominated longtime ally Kevin Warsh to replace Jerome Powell as US Fed chief, whose tenure at helm ends in May 2026. However, Warsh can only assume power as the new Chair after the Senate approves the POTUS' nomination.

Trump's nomination of Kevin Warsh culminates a month-long search for Powell's successor, and follows Trump launching a fusillade of criticism against the Powell-led Fed almost since he took the job in 2018.

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Warsh's Senate confirmation process is reportedly likely to be made difficult.

If confirmed by the Senate, Kevin Warsh would succeed Jerome Powell as the US Fed chief.

According to a NBC News ...