The White House said the nomination was sent to the Senate on Wednesday. Warsh is set to succeed Jerome Powell as Fed chairman when his term ends 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' handling of the Warsh nomination will be.
Senator Thom Tillis, a Republican from North Carolina, has said he will block the Senate from handling the matter until the criminal investigation against Powell is closed.
