economy
February 6, 2026
What to expect from Kevin Warsh, Trump’s pick to lead the Fed
Powell, 73, is set to depart as Fed chairman in May, though he has the option to remain on the Federal Reserve Board of Governors until Jan. 31, 2028. Such a move would no doubt anger Trump, who chose Powell as Fed chairman during his first White House term.
TL;DR
- President Trump has nominated Kevin Warsh to be the next Federal Reserve Chairman, replacing Jerome Powell.
- Warsh, a former Fed Governor, has a history of being an "inflation hawk" but has also recently criticized the Fed for not cutting interest rates enough.
- He has expressed a desire to shrink the Fed's balance sheet and reduce its footprint in the economy.
- Warsh's nomination faces potential opposition from Senator Thom Tillis, who has threatened to block Fed nominees until a Justice Department investigation into Jerome Powell concludes.
- Concerns about Fed independence from White House influence are a significant backdrop to Warsh's nomination.
- Warsh's experience as a market participant may lend credibility to his views on economic concerns.
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