U.S. President Donald Trump on Friday nominated Kevin Warsh to succeed Jerome Powell as chair of the Federal Reserve, concluding a months-long selection process marked by political tensions and market scrutiny.
“I have known Kevin for a long period of time and have no doubt that he will go down as one of the GREAT Fed Chairmen, maybe the best,” Trump said in a Truth Social post announcing the pick.
Warsh, 55, served previously as a Fed governor and enjoys strong credibility on Wall Street. Analysts say his appointment is unlikely to trigger immediate market upheaval, as he is considered a steady hand who would not always follow political pressure. Warsh must now be confirmed by the Senate, with his term expected to begin in May, when Powell’s current term expires.
The nomination comes amid elevated inflation, rising government borrowing, and heightened scrutiny of the Fed’s independence. Trump has repeatedly pressured Powell since 2018 to cut interest rates and has criticized the central bank’s Washington headquarters renovation. Warsh has previously called for “regime change” at the Fed, signaling potential friction with current policymakers and a focus on reforming internal operations.
Warsh was selected from a competitive pool that included current Governor Christopher Waller, BlackRock’s Rick Rieder, and White House economic advisor Kevin Hassett. Trump praised all finalists, highlighting the depth of talent considered for the role.
Observers say Warsh will face the dual challenge of maintaining the Fed’s independence while navigating political pressures, at a time when credibility and consensus are central to U.S. monetary policy.
