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The 55-year-old economist had been considered for Fed chair during Trump's first term.
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President Donald Trump announced conservative economist and former Fed governor Kevin Warsh as his pick to be the new Federal Reserve chairman.
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President Trump on Friday named Kevin Warsh to succeed Jerome Powell as Fed chair, ending an odyssey that has seen unprecedented turmoil around the central bank.
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;Resize=(620)) Federal prosecutors can't seek the death penalty against Luigi Mangione in the killing of UnitedHealthcare CEO Brian Thompson, a judge ruled Friday, foiling the Trump administration's bid to see him executed for what it called a "premeditated, cold-blooded assassination that shocked America."
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Asia-Pacific markets traded mostly lower after U.S. President Donald Trump said that he will announce his choice for the next Federal Reserve chair on Friday.
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President Donald Trump said Thursday that he will be naming his pick Friday for the new Federal Reserve chair.
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