00:00U.S. President Donald Trump on Friday nominated conservative economist Kevin Walsh as the new chair of the U.S. Federal Reserve,
00:09a peak likely to result in sharp changes to the powerful agency that could bring it closer to the White House
00:16and reduce its historical independence from day-to-day politics.
00:21Walsh would replace current chair Jerome Powell when his term expires in May.
00:26Trump chose Powell to lead the Fed in 2017, but this year has relentlessly assailed him for not cutting interest rates quickly enough.
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