Trump Nominates Warsh to Succeed Powell as Fed Chair

President Donald Trump formally nominated Kevin Warsh on Wednesday to succeed Jerome Powell as chairman of the Federal Reserve, advancing a push for more aggressive interest rate cuts amid ongoing economic tensions.

The White House sent the nomination to the Senate for Warsh to serve a four-year term as chairman of the Board of Governors, starting after Powell's term ends on May 15, 2026. The submission also included Warsh's nomination as a board member for a 14-year term beginning February 1, 2026. Trump first announced the selection on January 30, signaling his intent to replace Powell, whom he has repeatedly criticized for maintaining high interest rates despite persistent inflation.

Warsh, 55, brings extensive experience to the role. He served as a Federal Reserve governor from 2006 to 2011, becoming the youngest appointee in the central bank's history. During his tenure, he navigated the 2008 financial crisis and acted as a liaison to Wall Street institutions. Currently, Warsh holds positions as the Shepard Family Distinguished Visiting Fellow in Economics at the Hoover Institution and a lecturer at the Stanford Graduate School of Business. He has advised Trump on economic...