Donald Trump has been calling for change at the US central bank. Now, with Jerome Powell's term as Federal Reserve chairman poised to end in May, he could be about to get his wish. On Friday, the US president announced Kevin Warsh - a conservative whom he had passed over for the post, to his regret, during his first term - as his choice to replace Powell. 'Warsh is 'central casting' and he will never let you down,' Trump declared on social media. The irony of the choice was lost on no one. Warsh has made his name as a supporter of higher interest rates - a reputation he has tried to shed in recent opinion articles and media appearances. It's a position that would seem to put him at odds with Trump, a self-described 'low interest rate guy', who has criticised Powell for not cutting interest rates quickly enough.

Warsh brings a traditional background to the job: an Ivy League education, a prior stint at the Fed, as well as time on Wall Street and at the Hoover Institution - a conservative economic think tank. Supporters say he is sensitive to concerns about the bank's independence and alert to the risks if its policies serve short-term political aims rather than the wider economy. His nomination has drawn praise from establishment figures, but critics question if his family connections to Trump influenced his selection. Regardless, many see him as a responsible pick and anticipate that he could align with Trump's objectives while maintaining some independence. With interest rates subject to scrutiny, Warsh's approach could ultimately shape the economic landscape under his leadership.