Georgia Howe

President Donald Trump has announced his pick to chair the Federal Reserve.

The president said in a post on Truth Social that former Fed Governor Kevin Warsh will go down as one of the great Fed chairmen, maybe the best.

Trump's nominee will now have to face the Senate for approval.

GOP Senator Tom Tillis, who chairs the banking committee, called Trump's pick a qualified nominee with a deep understanding of monetary policy.

but noted that he will not vote to confirm any nominee to chair the Fed until the DOJ's inquiry into Chairman Powell is fully and transparently resolved.

Meanwhile, Trump says Warsh wants to cut rates, something Trump has pushed Powell to do.

Israel is set to reopen the Rafah Crossing that connects Gaza to Egypt for pedestrian traffic.

Israel's defense ministry said on Friday that the checkpoint will be monitored in coordination with Egypt and overseen by a European Union monitoring mission.

Residents of Gaza who want to return to the enclave from Egypt can do so, but it will only be allowed for those who left after the war began and who have received prior approval from Israel.

The opening of the Rafah Crossing is part of the U.S.-brokered ceasefire between Israel and Hamas from last year.

President Trump has reportedly received a slate of options for military action against Iran.

According to The New York Times, the proposals include potential strikes aimed at Iran's nuclear and weapons facilities, as well as undercutting the power of Iran's supreme leader.

The new slate of options come as Trump has pushed the regime to cut a deal on the future of its nuclear program.

Meanwhile, the USS Abraham Lincoln carrier strike group recently arrived in the Middle East, bolstering US forces in the region.

In a victory for President Trump, the High Court of Panama has voided the contract of a Chinese-linked company that operated entry ports of the Panama Canal.

Secretary of State Marco Rubio said in a post on social media that the United States is encouraged by the recent Panamanian Supreme Court decision to rule port concessions to China unconstitutional.

The Panama Ports Company, which operated terminals at each end of the canal, called the decision inconsistent with the relative legal framework and the law.

The Trump administration has leaned on Panama to end Chinese influence over the canal, which is one of the most important choke points in global shipping.

Chinese President Xi Jinping has dramatically purged top leadership of the Chinese military.

Daily Wire senior editor Joel Needler has the latest.