Choice of former Fed governor to succeed Jerome Powell comes amid attack on central bank’s independence

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Donald Trump is expected to nominate the former Federal Reserve governor Kevin Warsh as its next chair amid an extraordinary attempt by the president to tighten his grip on the US central bank and flout its longstanding independence.

Trump told reporters on Thursday that he planned to announce his choice for chair of the Federal Reserve on Friday morning, hinting that “a lot of people think that this is somebody that could have been there a few years ago”.