U.S. President Donald Trump has nominated former Federal Reserve Governor Kevin Warsh to succeed Jerome Powell as Chair of the Federal Reserve when Powell’s term ends in May 2026. Warsh, known for his tenure during the 2008 financial crisis, is expected to bring policy shifts closer to White House priorities.
In a significant move for U.S. monetary policy, President Donald Trump announced the nomination of Kevin Warsh, a former Federal Reserve Governor, as the next Chair of the Federal Reserve. Warsh, who served on the Fed’s board from 2006 to 2011, played a key role during the global financial crisis and has since remained an influential voice in economic policy circles.
The nomination comes amid Trump’s criticism of current Chair Jerome Powell for not cutting interest rates aggressively enough. Warsh’s appointment, pending Senate confirmation, could signal a closer alignment between the Fed and the administration’s economic agenda.
Key Highlights:
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Nominee: Kevin Warsh, former Fed Governor (2006–2011).
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Role: To succeed Jerome Powell as Fed Chair in May 2026.
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Policy Context: Trump has pushed for lower interest rates to spur growth.
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Background: Warsh served during the 2008 crisis; later affiliated with Stanford’s Hoover Institution.
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Market Impact: Analysts expect potential shifts in Fed independence and monetary policy direction.
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Confirmation: Appointment subject to Senate approval.
Warsh’s nomination underscores Trump’s intent to reshape U.S. monetary policy leadership, potentially influencing global markets and investor sentiment.
Sources: Reuters, CNBC, Hindustan Times, CBS News, Politico