Next U.S. Fed chair

U.S. President Donald Trump announced last week he'd nominate former Federal Reserve Governor Kevin Warsh to head the U.S. central bank when Jerome Powell's term ends in May. Warsh served as the Fed governor from 2006 through 2011, which includes the deep recession that followed the 2008 financial crisis. He has recently argued for lower interest rates, a view that aligns with Trump's push for the Fed to ease borrowing costs. His nomination now goes through confirmation by the U.S. Senate. If confirmed, he will need to act on inflation amid a weakening job market. So, what does the nomination mean for the U.S. and the global economy?