Jessica Mendoza

Initially, Warsh was on board with the policy.

But by the time he left the Fed in 2011, he had his doubts.

Warsh's concerns drew a lot of attention, including from President Trump, who in 2017, during his first term, was choosing a new Fed chair.

The choice came down to Warsh and Jerome Powell.

Ultimately, Trump chooses Powell.

Why didn't Trump choose Warsh at the time?

What was sort of the idea there?

But things didn't go as Trump expected.

Powell gradually raised interest rates starting in 2018.

And Trump made his displeasure with Powell public.

During Trump's second term, his frustration reached a boiling point.

Meanwhile, Warsh had become more vocal about lowering rates.

In the past few years, one of the main sticking points between Trump and Powell has been interest rates, as you've said.

Trump has said he wants rates as low as 1%.

What has Warsh said about that?

Here's Warsh speaking with Fox's Maria Bartiromo.

What Warsh is concerned about is a Federal Reserve that is an obstacle to economic growth because it's entrenched in its own ways.

He talked about this in a podcast interview last year.

And in an op-ed for The Wall Street Journal in November, Warsh wrote that reforming monetary policy at the Fed would lead to a stronger economy and lower inflation.

And so when Trump announced his pick, what did he say when he decided finally that it was Warsh?