Today, President Trump announced Kevin Warsh as his pick to be the next chairman of the Federal Reserve.

A conservative economist at the Hoover Institution, Warsh is a former advisor to President George W. Bush,

and was a member of the Federal Reserve's Board of Governors from 2006 until 2011.

In a post on Truth Social, Trump said, quote,

he will go down as one of the great Fed

chairman, maybe the best. On top of everything else, he is central casting and will never let you

down. The president went on to praise his pick this afternoon.

He's got the whole package. He's got the whole package.

He's got the whole package, and I think he's going to do a great job.

If confirmed by the Senate, Warsh will succeed current chair Jerome Powell, whose term

ends in May.

Joining me now is David Wessel.

He's director of the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution.

David, welcome back, and let's just start with your brief take on what you make of this selection.

What should we know about Kevin Warsh?

Well, Kevin Warsh is actually a lawyer. He's not an economist.

He's a very ambitious guy who has been an excellent networker.

He was appointed to the Federal Reserve Board

by George W. Bush at age 35, younger than anybody else. He is a man who understands the markets.

He's very good with people. I think that'll serve him well. And he has sort of changed his stance on monetary policy over the years.

He was what is generally called a hawk, an inflation fighter when he was on the board.

But in recent years, particularly as he's been campaigning, auditioning, if you will, to be Fed chair,

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