Trump Appoints Kevin Warsh as Chair of the Federal Reserve
Navellier & Associates founder and CIO Louis Navellier discusses Paramount’s bid for Warner Bros. Discovery and evaluates potential Federal Reserve Chair nominees on ‘Mornings with Maria.’
On Friday, President Donald Trump announced his intention to nominate Kevin Warsh as the new head of the Federal Reserve, aiming to replace Jerome Powell when his term concludes in May.
This decision comes at a critical juncture for the Federal Reserve, as the Justice Department is currently investigating Powell, the Supreme Court is deliberating on the Fed’s independence, and rising living costs are putting pressure on Trump’s economic agenda.
Trump expressed his confidence in Warsh via Truth Social, stating, “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. On top of everything else, he is ‘central casting,’ and he will never let you down. Congratulations Kevin!”
If confirmed by the Senate, Warsh would take on one of the most influential roles in U.S. economic policy, directly impacting interest rate decisions and the central bank’s efforts to combat inflation.
FROM MORTGAGES TO CAR LOANS: HOW AFFORDABILITY RISES AND FALLS WITH THE FED
Kevin Warsh, former governor of the Federal Reserve, will return to lead the central bank. (David Paul Morris/Bloomberg via Getty Images)
The Federal Reserve plays a crucial role in determining borrowing costs and influencing inflation, thereby affecting Americans’ daily financial situations.
Warsh’s potential rise to the Fed’s top position comes amid Trump’s ongoing criticism of Powell, particularly regarding interest rate policies and broader monetary policy.
Trump has urged the Fed to lower rates, claiming it could save the nation “hundreds of billions of dollars.” Currently, Powell has maintained the benchmark rate between 4.25% and 4.5%, adopting a cautious approach to evaluate the effects of the president’s extensive tariffs. Although the Fed has since reduced rates, Trump’s criticisms of Powell, whom he appointed in 2017, have become increasingly personal, often involving derogatory nicknames.
Federal Reserve Chair Jerome Powell speaks during a press conference following the Federal Open Markets Committee meeting at the Federal Reserve on Dec. 10, 2025, in Washington. (Chip Somodevilla/Getty Images)
Powell, regarded as one of the most resilient Federal Reserve chairs in recent history, has a background as a lawyer and investment banker in New York before transitioning to public service under President George H.W. Bush. He joined the Federal Reserve’s Board of Governors in 2012 and was appointed to lead the central bank in 2017.
Warsh has consistently criticized the Fed’s leadership, intensifying his critiques as he positions himself as a candidate to replace Powell. A former Morgan Stanley banker, Warsh became the youngest individual to serve on the Fed board in 2006.
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Kevin Warsh, former governor of the Federal Reserve, during the International Monetary Fund and World Bank Spring meetings in Washington, D.C., on April 25, 2025. (Tierney Cross/Bloomberg via Getty Images)
Although he left the Fed in 2011, Warsh was recognized as a key liaison to Wall Street during the 2008 financial crisis and also served as an economic advisor to then-President George W. Bush.
Navellier & Associates founder and CIO Louis Navellier discusses Paramount’s bid for Warner Bros. Discovery and evaluates potential Federal Reserve Chair nominees on ‘Mornings with Maria.’
On Friday, President Donald Trump announced his intention to nominate Kevin Warsh as the new head of the Federal Reserve, aiming to replace Jerome Powell when his term concludes in May.
This decision comes at a critical juncture for the Federal Reserve, as the Justice Department is currently investigating Powell, the Supreme Court is deliberating on the Fed’s independence, and rising living costs are putting pressure on Trump’s economic agenda.
Trump expressed his confidence in Warsh via Truth Social, stating, “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. On top of everything else, he is ‘central casting,’ and he will never let you down. Congratulations Kevin!”
If confirmed by the Senate, Warsh would take on one of the most influential roles in U.S. economic policy, directly impacting interest rate decisions and the central bank’s efforts to combat inflation.
FROM MORTGAGES TO CAR LOANS: HOW AFFORDABILITY RISES AND FALLS WITH THE FED
Kevin Warsh, former governor of the Federal Reserve, will return to lead the central bank. (David Paul Morris/Bloomberg via Getty Images)
The Federal Reserve plays a crucial role in determining borrowing costs and influencing inflation, thereby affecting Americans’ daily financial situations.
Warsh’s potential rise to the Fed’s top position comes amid Trump’s ongoing criticism of Powell, particularly regarding interest rate policies and broader monetary policy.
Trump has urged the Fed to lower rates, claiming it could save the nation “hundreds of billions of dollars.” Currently, Powell has maintained the benchmark rate between 4.25% and 4.5%, adopting a cautious approach to evaluate the effects of the president’s extensive tariffs. Although the Fed has since reduced rates, Trump’s criticisms of Powell, whom he appointed in 2017, have become increasingly personal, often involving derogatory nicknames.
Federal Reserve Chair Jerome Powell speaks during a press conference following the Federal Open Markets Committee meeting at the Federal Reserve on Dec. 10, 2025, in Washington. (Chip Somodevilla/Getty Images)
Powell, regarded as one of the most resilient Federal Reserve chairs in recent history, has a background as a lawyer and investment banker in New York before transitioning to public service under President George H.W. Bush. He joined the Federal Reserve’s Board of Governors in 2012 and was appointed to lead the central bank in 2017.
Warsh has consistently criticized the Fed’s leadership, intensifying his critiques as he positions himself as a candidate to replace Powell. A former Morgan Stanley banker, Warsh became the youngest individual to serve on the Fed board in 2006.
CLICK HERE TO GET FOX BUSINESS ON THE GO
Kevin Warsh, former governor of the Federal Reserve, during the International Monetary Fund and World Bank Spring meetings in Washington, D.C., on April 25, 2025. (Tierney Cross/Bloomberg via Getty Images)
Although he left the Fed in 2011, Warsh was recognized as a key liaison to Wall Street during the 2008 financial crisis and also served as an economic advisor to then-President George W. Bush.
