Trump nominates former US Fed official as next central bank chief

Trump's decision caps a closely watched search for a successor to current Fed Chair Jerome Powell, whom the president has repeatedly lambasted for not cutting interest rates more swiftly. "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," the US leader added. Powell's term at the helm ends in May.