Jerome Powell

Jerome Powell is the current Chairman of the US Federal Reserve. He is newsworthy because President Donald Trump has nominated Kevin Warsh to replace him when his term ends in May. This decision follows Trump's expressed desire for change at the central bank and perceived pressure on Powell to cut interest rates. The nomination of Warsh, a former Fed governor, suggests a potential shift in monetary policy direction, aligning more closely with Trump's economic goals. The news has also coincided with significant market fluctuations, including a plunge in gold and silver prices and a weakening US dollar, adding to the significance of the leadership transition at the Federal Reserve. Warsh's confirmation will face scrutiny in the Senate.