New Delhi, Jan. 30 -- US President Donald Trump has announced Kevin M Warsh as the new Chair of the Federal Reserve, replacing incumbent Jerome H Powell. In a post on Truth Social, Trump declared his choice for the top central banking role. "I am pleased to announce that I am nominating Kevin Warsh to be the CHAIRMAN OF THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM," said Donald Trump in his recent post on Truth Social.

Trump reportedly met Warsh at the White House on Thursday and later told reporters that he would soon name someone "known to everybody in the financial world."

Kevin Warsh is a former member of the US Federal Reserve Board of Governors, having served from 2006 to 2011. He is also close to Donald Trump and has advi...