Michael Barr

Calls continue for Republican Congressman Tony Gonzalez to resign about an alleged extramarital affair, plus several services begin today for Jesse Jackson.

I'm Michael Barr.

More ahead.

Business leaders call for restoring funding for the New York Rail Tunnel project.

Plus, officials from the self-driving vehicle industry appeared before Congress.

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More ahead.

News when you want it with Bloomberg News Now.

I'm Michael Barr.

Breaking news from the White House this morning that's impacting financial markets.

President Donald Trump has announced he is nominating Kevin Walsh to replace Jay Powell as the next chair of the Federal Reserve.

The president made the announcement on Truth Social.

We get more on selection of Walsh from Bloomberg Economics and policy correspondent Michael McKee.

Bloomberg's Michael McKee reporting.

Repeating the details on this breaking story, President Donald Trump has announced he is nominating Kevin Walsh to replace Jay Powell as the next chair of the Federal Reserve.

Markets are reacting to the news.

U.S.

stock futures are lower.

Long-term Treasury yields are higher.

The dollar is stronger and gold is trading lower this morning.