President Donald Trump on Friday formally nominated former Federal Reserve governor Kevin Warsh to succeed Jerome Powell as chair of the U.S. central bank, bringing a turbulent and politically charged transition at the Fed closer to resolution. The decision concludes a months-long search process that unfolded amid extraordinary pressure on the Federal Reserve, rising concerns over inflation persistence, and growing debate about the future independence of the central bank. Trump announced the nomination in a Truth Social post, praising Warsh as a steady and capable choice during a volatile period for monetary policy. “I have known Kevin for a long...