Trump nominates Kevin Warsh for Federal Reserve chair to succeed Jerome Powell

• Kevin Warsh is a former Fed Governor (2006-2011) and a special assistant to President George W. Bush (2002-2006).
• He is a sharp critic of current Fed policies and Jerome Powell, blaming them for pandemic inflation, and advocates for a significantly reduced Fed balance sheet.
• Warsh believes the Fed should abandon the 'dogma' that growth creates inflation and supported initial QE but broke with Bernanke over subsequent purchases due to inflation concerns.
• He emphasizes Fed independence, secured by reducing its economic footprint and political profile, leading some on Wall Street to be wary of less market rescue in a crisis.

The video discusses Donald Trump's nomination of Kevin Warsh for Federal Reserve chair, outlining his background and monetary policy stances. Warsh is known for being a sharp critic of current Fed policies, advocating for a significant reduction in the Fed's balance sheet, and a more limited, 'old school' role for the central bank in the economy and during crises.