According to the White House, the nomination was sent to the Senate on Wednesday. Walsh is set to succeed Jerome Powell as Fed Chairman when his term expires in May.
Trump has repeatedly attacked Powell and the Fed for not cutting interest rates as quickly as the president wanted. Powell is under a controversial criminal investigation related to a $2.5 billion renovation of the Fed's offices.
The question now is how smooth Congress's handling of the Walsh nomination will be.
Senator Thom Tillis, a Republican from North Carolina, has said he will block the Senate's handling of the matter until the criminal investigation against Powell is closed.
