Trump Nominates Kevin Warsh as Fed Chair
Economy
U.S. President Donald Trump has nominated Kevin Warsh for the position of Chair of the Federal Reserve. If confirmed by the Senate, he would succeed Jerome Powell, whose term expires in May 2026. Trump has repeatedly criticized Powell over his refusal to lower interest rates.
Trump wrote on his social media platform Truth Social that Warsh will “go down in history as one of the GREAT Fed Chairs” and is the “perfect candidate.”
In January 2026, prosecutors opened an investigation into Powell related to Federal Reserve headquarters renovation expenses. Powell said the inquiry was a result of his disagreements with the Trump administration over interest rate policy.
Kevin Warsh, 55, previously served on the Fed Board of Governors from 2006 to 2011 and worked as an economist in the White House under President George W. Bush. He is currently a visiting scholar at Stanford University’s Hoover Institution.
CNN notes that Warsh was previously a proponent of tight monetary policy but now supports lowering interest rates.
In January 2026, prosecutors opened an investigation into Powell related to Federal Reserve headquarters renovation expenses. Powell said the inquiry was a result of his disagreements with the Trump administration over interest rate policy.
Kevin Warsh, 55, previously served on the Fed Board of Governors from 2006 to 2011 and worked as an economist in the White House under President George W. Bush. He is currently a visiting scholar at Stanford University’s Hoover Institution.
CNN notes that Warsh was previously a proponent of tight monetary policy but now supports lowering interest rates.
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