economy
January 30, 2026
Trump nominates Federal Reserve critic Kevin Warsh as its next chair
Pick of former Fed governor to replace Jerome Powell comes as White House seeks to tighten grip on central bank
TL;DR
- Donald Trump has nominated Kevin Warsh as his choice for the next chair of the Federal Reserve.
- Warsh is a former Federal Reserve governor and has been an outspoken critic of the central bank.
- His nomination is subject to confirmation by the Senate.
- Some Republican senators have indicated they will block Trump's Fed nominees until an investigation into current chair Jerome Powell is resolved.
- Democrats have voiced concerns about this nomination potentially compromising the independence of the Fed.
- Warsh has previously warned about inflation risks but has also supported calls for lower interest rates.
- The dollar strengthened following the news of Warsh's expected nomination.
- Other candidates considered for the role included Kevin Hassett, Christopher Waller, and Rick Rieder.
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