The story has been corrected to accurately describe Coupang, a U.S. tech company for which Warsh served on the board of directors.

President Trump on Friday nominated former Federal Reserve board member Kevin Warsh to succeed Federal Reserve Chair Jerome Powell.

In an announcement on Truth Social, the president touted Warsh’s resume, expressing his confidence that his nominee “will go down as one of the GREAT Fed Chairmen, maybe the best.”

The former Fed governor was born in Albany, N.Y., and is a graduate of Stanford University and Harvard Law School, according to his bio on the central bank’s website.

Powell, whose term ends in May, has been at odds with the president in recent months over interest rate decisions and renovations at the central bank’s headquarters in Washington, D.C. Trump has consistently threatened to fire the current Fed chair, who he nominated for the position in 2017, during their clashes.

Warsh and National Economic Council Director Kevin Hassett were the frontrunners for the nomination. Trump, in subsequent Truth Social posts on Friday, clarified why he wanted to keep Hassett where he is and outlined others he considered to lead the Fed.

If confirmed by the Senate, Warsh will become the 17th chair of the Fed

This is not the first time Warsh’s name has been floated for the position.

Warsh was a runner-up to lead the Fed in 2017, when Trump selected Powell as his nominee to replace former then-Chair Janet Yellen.

He was also among several rumored picks for the president’s Treasury secretary nomination after the 2024 presidential election. The role ultimately went to Scott Bessent, who was also on Trump’s shortlist to succeed Powell.