President Donald Trump announced on January 30, 2026, his nomination of Kevin Warsh, a former Federal Reserve governor, to succeed Jerome Powell as the next chair of the Federal Reserve. This decision comes as Powell’s term is set to expire in May 2026, amid ongoing tensions between the White House and the central bank over interest rate policies. Trump, who has frequently criticized Powell for not slashing rates aggressively enough to stimulate economic growth, described Warsh as a potential “great” Fed chair in a Truth Social post. The nomination caps a months-long search process initiated in September 2025 and led by Treasury Secretary Scott Bessent, who narrowed down candidates to present finalists to the president.

Kevin Warsh, aged 55, brings extensive experience from his tenure as a Fed governor from 2006 to 2011, during which he was involved in navigating the financial crisis. A vocal critic of the Federal Reserve’s recent policies, Warsh has advocated for a more cautious approach to monetary stimulus while favoring lower interest rates, aligning with Trump’s economic priorities. He was previously considered for the chair position in 2017 but lost out to Powell; this time, Trump selected him over other contenders like BlackRock’s Rick Rieder and Fed Governor Christopher Waller. Warsh’s deep Wall Street ties and conservative economic views position him as a figure likely to prioritize deregulation and tighter integration with White House objectives.

The nomination requires Senate confirmation, where Warsh may face scrutiny over his independence from presidential influence, especially given Trump’s history of pressuring the Fed. Analysts suggest this pick could signal a shift toward more accommodative monetary policy, potentially easing borrowing costs but raising concerns about inflation or central bank autonomy. Reactions have been mixed, with some praising Warsh’s expertise and others warning of increased politicization of the institution. If confirmed, Warsh’s leadership might mark a pivotal change in how the Fed balances economic stability with external pressures.

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