On January 30, the White House announced the nomination of Kevin Warsh to replace Jerome Powell as Fed chair when Powell’s term ends in May. According to the announcement, Warsh, while serving as a Fed governor, played a key role in guiding the Fed through the 2008 financial crisis. Warsh holds an undergraduate degree from Stanford University, a J.D. from Harvard Law School, and has experience as an economic advisor in government and as an executive in the financial services industry.