Late last week, U.S. President Donald Trump announced his pick for the next chair of the Federal Reserve.

That person is Kevin Warsh. Warsh throughout his career has straddled both Wall Street and policy circles,

and at one time was a member of the Fed Board of Governors.

But he's also challenged the way the Central Bank is being run

under current chair Jerome Powell, whose term ends in May.

Walsh may have risen to prominence as a Fed governor.

But since he left the U.S. Central Bank, he's emerged as a major critic.

Now that he's about to succeed Powell in the top role, we have quite a lot of questions

about how he intends to do the job differently.

If Warsh is confirmed by the Senate, what'll that mean for the future of the Fed and U.S. monetary policy?

The FTs U.S. economics editor, Claire Jones, has been following this selection process closely.

I'm going to talk with her about all of that on today's show.

I'm Mikhaila Tendera, and this is behind the money.

Thank you. I'm Michaela Tendera, and this is Behind the Money. Hi, Claire, welcome to the show.

Hi, Michaela, pleasure to be here.

Yeah, so glad to have you.

Claire, tracking this process for the FT and waiting to see who President

Trump is going to select over the past several months. What's that all been like?

Well, Trump has spent the majority of his second term really having a bash at the U.S. Central Bank.

The U.S. president has wanted interest rates to really be a lot lower than they are at the moment.

He's said they ought to be at 1%.

What that's resulted in is that the current chair Jerome Powell has faced some really

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