US President Donald Trump announced Friday that he is nominating Kevin Warsh, a former Federal Reserve governor, to be the next US central bank chief.

Kevin Warsh is President Donald Trump’s nominee for the next chair of the Federal Reserve, Trump says in a social media post.

President Donald Trump on Friday chose former Federal Reserve Governor Kevin Warsh to head the U.S. central bank when Jerome Powell's leadership term ends in May.

The announcement would end months of speculation about one of the president's most important economic policy decisions.

The Senate needs to probe Kevin Warsh, the nominee to head the central bank, on his ideas about the creative role of Americans in fighting inflation.

Gold and silver suffered their biggest slide in years, in a whipsawing reversal of a scorching rally that’s lifted prices to all-time highs.

Silver saw a brutal reversal on Friday, down more than 30%. Gold dropped more than 10% and stocks tumbled as traders reacted to Trump's pick for Fed chair.

President Donald Trump said he intends to announce his pick to ​replace Federal Reserve Chair Jerome Powell, with speculation intensifying that the nod will go to former Fed Governor Kevin Warsh.