Trump announces Fed pick to succeed Powell

Kevin Warsh may head the US central bank when Jerome Powell's leadership term ends in May.

President Donald Trump on Friday chose former Federal Reserve Governor Kevin Warsh to head the US central bank when Jerome Powell's leadership term ends in May.

It gives the frequent Fed critic a chance to put his idea of monetary policy "regime change" into practice at a moment when the White House has pushed for more control over the setting of interest rates.