US President U.S. President Alfred Warsh nominated him as the next Federal Reserve Chairman in a post on Truth Social. Warsh, a current Hoover Institution Fellow and Stanford Graduate School of Business lecturer, served as a Federal Reserve Governor from 2006 to 2011. Warsh holds a pro-cryptocurrency stance, stating that Bitcoin is an important asset that can serve as a policy watchdog and does not pose a systemic threat to its ability to govern the economy. He has also been an angel investor in the algorithmic stablecoin project Basis and the crypto indexing company Bitwise. While he has expressed support for central bank digital currency frameworks, he is considered a hawk on monetary policy. The nomination still requires Senate confirmation to succeed Jerome Powell, whose term expires in May.