US President Donald Trump will swear in Kevin Warsh on Friday to lead Fed
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The US President Donald Trump administration said that Trump will swear in Kevin Warsh as the chair of the US Federal Reserve (Fed) on Friday at the White House, Reuters reported on Thursday.
The new chair will succeed Jerome Powell, whose term expired Friday but who continues to serve on a pro-tempore basis until Warsh officially takes over. Warsh will serve a four-year term as Fed chair and a 14-year term as a Fed governor.
Market reaction
At the time of writing, the US Dollar Index (DXY) is trading 0.07% higher on the day at 99.20.
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