Trump nominates Kevin Warsh as next Fed chairman

Investing.com -- U.S. President Donald Trump announced Friday that he has nominated Kevin Warsh to serve as the next chairman of the Federal Reserve, replacing Jerome Powell whose term ends in May 2026.

"He is “central casting,” and he will never let you down," the President wrote in a post on Truth Social when announcing the nomination.

"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 added.

Warsh, who previously served as a Federal Reserve governor from 2006 to 2011, would become the next leader of the U.S. central bank if confirmed by the Senate. At 35, he was the youngest Fed governor ever appointed.

"We view this pick as broadly positive for bank policy as Warsh brings to the table an understanding of the regulatory regime," TD Cowen’s Jaret Seiberg stated following the announcement. "We also believe his more hawkish monetary policy background could help bring down long-term rates, which would help housing."

Currently, Warsh is the Shepard Family Distinguished Visiting Fellow in Economics at the Hoover Institution and a lecturer at the Stanford Graduate School of Business. He also works as a partner with Stanley Druckenmiller at Duquesne Family Office LLC.

During his previous tenure at the Fed, Warsh played a significant role during the 2008 financial crisis, serving as a key liaison between the central bank and Wall Street. He also represented the Federal Reserve at G-20 meetings and served as the board's emissary to emerging and advanced economies in Asia.

Before joining the Federal Reserve, Warsh worked as Special Assistant to the President for Economic Policy and Executive Secretary of the White House National Economic Council from 2002 to 2006. Earlier in his career, he was Vice President and Executive Director in the Mergers & Acquisitions Department at Morgan Stanley & Co. in New York.

Powell's term as Federal Reserve Chair is set to conclude on May 15, 2026.

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