US President Donald Trump announced on Truth Social that he will nominate former Federal Reserve Governor Kevin Warsh as the next Fed chair. Trump praised Warsh as a potential “GREAT Fed chairman.” Warsh is known for criticizing loose monetary policy and has shown more support for Bitcoin than Powell. Market reactions include a gold sell-off amid speculation of a more hawkish Fed. Confirmation by the Senate is required.

Read more at Cointelegraph: Trump Picks Kevin Warsh as Next Federal Reserve Chair