Trump nominates Kevin Warsh to lead the Federal Reserve as government shutdown looms

President Trump has nominated Kevin Warsh, a former Federal Reserve governor, to replace Jerome Powell as the chair of the central bank. Warsh is known as an inflation hawk, and his nomination has sparked debate about the Fed's independence from political pressure.

Separately, a partial government shutdown is expected to last until at least Tuesday. Democratic leaders say they will not help pass a funding bill, though some headlines indicate a deal may have been reached to avoid it. In other economic news, Trump has proposed a cap on credit card interest rates, a move that bank executives like JPMorgan's Jamie Dimon have criticized.