Announcement Details
Trump made the announcement on January 30, 2026, via his Truth Social platform, praising Warsh as someone he has known for a long time who “will never let you down” and could be one of the greatest Fed chairs.
The nomination comes after months of Trump’s public criticism of Powell for not cutting interest rates aggressively enough amid ongoing inflation challenges and political pressure on the Fed.[npr +3]
Warsh’s Background
Kevin Warsh served as a Federal Reserve governor from 2006 to 2011 under President George W. Bush, navigating the financial crisis.
Since then, he has worked with investor Stanley Druckenmiller, held positions at the Hoover Institution, and advocated for lower interest rates while critiquing Powell’s policies.
Confirmation Process
The nomination requires U.S. Senate approval, where Warsh is expected to face questions on maintaining Fed independence given Trump’s influence.
With a Republican-majority Senate, confirmation appears likely despite tensions over monetary policy like rate cuts and balance sheet reduction.
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