economy
January 30, 2026
Trump nominates Kevin Warsh to be next Fed chairman
President Donald Trump has nominated former Federal Reserve governor Kevin Warsh to be the next chairman of the central bank’s Board of Governors.
TL;DR
- President Trump nominated Kevin Warsh to be the next chairman of the Federal Reserve's Board of Governors.
- Warsh, a former Fed governor, is expected to be more aggressive in pushing for lower interest rates.
- Trump has been critical of current Fed Chairman Jerome Powell for not lowering rates sufficiently.
- Warsh previously served on the Fed's Board of Governors from 2006 to 2011, overlapping the 2008 financial crisis.
- Jerome Powell is currently under a Justice Department criminal investigation related to testimony about renovation cost overruns at the Fed headquarters.
- Senator Thom Tillis has vowed to block Trump's Fed nominees until Powell's legal matter is concluded.
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