President Donald Trump ended months of speculation Friday morning by announcing former Fed Governor Kevin Warsh as his pick for the next Federal Reserve chair. If confirmed, Warsh would succeed current Fed Chair Jerome Powell when his term ends in May. In his second term, President Trump and his administration have run a full-court press against Powell and several Fed governors to lower interest rates. The process to becoming Fed Chair starts with Warsh succeeding Fed Governor Stephen Miran on Feb. 1. In addition to Warsh, Trump had considered three other final candidates to lead the Federal Reserve: National Economic Council Director Kevin Hassett, Federal Reserve Gov.