Business Leaders Share Insights on Kevin Warsh’s Nomination as Fed Chair
‘The Big Money Show’ panel reacts to President Donald Trump’s Fed pick as markets weigh the future of interest rates and monetary policy.
On Friday, President Donald Trump announced his nomination of Kevin Warsh as the next chairman of the Federal Reserve, concluding a lengthy deliberation process.
Warsh, who previously served on the Fed’s Board of Governors from 2006 to 2011, was also considered for the chairman position when Trump nominated Jerome Powell in 2017. Powell was reappointed for a second term in 2022, which is set to expire in May.
Before his tenure at the Fed, Warsh gained experience in the private sector with JPMorgan and served in President George W. Bush’s administration. His initial appointment made him the youngest Fed governor in history.
Former Fed Governor Kevin Warsh was nominated by President Donald Trump to serve as the next Fed chairman. (Daniel Acker/Bloomberg via Getty Images / Getty Images)
Since his time at the Fed, Warsh has held various roles, including positions at the Hoover Institution and Stanford’s Graduate School of Business, as well as serving on the board of UPS. He has also been part of a panel of economic advisers to the Congressional Budget Office.
Numerous business leaders and executives have expressed their support for Warsh’s nomination, highlighting his qualifications for the role. Here’s what some of them had to say:
WHO IS KEVIN WARSH, TRUMP’S PICK TO SUCCEED JEROME POWELL AS FED CHAIR?
Bank of America CEO Brian Moynihan issued a statement expressing support for Warsh’s nomination. (John Lamparski/Getty Images / Getty Images)
Bank of America CEO Brian Moynihan
“I have known Kevin for many years in his many capacities serving our country, and his background and experience are suited to the role. I wish him well through the process ahead.”
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BAC | BANK OF AMERICA CORP. | 53.23 | +0.19 | +0.36% |
UPS CEO Carol Tomé
“Since joining the UPS Board more than 13 years ago, Kevin Warsh has served as a trusted advisor and colleague. His deep financial markets knowledge, global economic insight, crisis management expertise, and sound judgment have made him an invaluable member of our Board. On behalf of our more than 400,000 employees, we celebrate his nomination and willingness to serve our country in this key role.”
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| UPS | UNITED PARCEL SERVICE INC. | 106.22 | +0.26 | +0.25% |
LAWMAKERS REACT TO TRUMP NOMINATING KEVIN WARSH FOR FEDERAL RESERVE CHAIRMAN
U.S. Chamber of Commerce CEO Suzanne Clark
“Kevin is well known to the business community. We appreciate his years of focus on how we grow the economy and maintain stable prices for America’s families, and look forward to his confirmation process.”
Investment Company Institute (ICI) CEO Eric Pan
“Warsh’s wealth of experience in monetary policy and financial regulation, along with his deep understanding of the Federal Reserve’s dual mandate, will serve him well in this position. His unique background as a former Federal Reserve Governor, combined with his experience in global financial markets, provides a solid foundation for this leadership role. We commend President Trump for this outstanding nomination and look forward to collaborating with Warsh to support the millions of American investors we serve.”
TRUMP’S FED PICK KEVIN WARSH FACES UNEXPECTED ROADBLOCK OVER ONGOING POWELL PROBE
Warsh previously served on the Fed’s Board of Governors from 2006 to 2011. (Tierney L. Cross/Bloomberg via Getty Images / Getty Images)
American Bankers Association CEO Rob Nichols
“In selecting Warsh, President Trump has chosen an experienced and tested policymaker who previously served at the Fed during one of its most challenging moments. Having worked alongside him in the Bush administration, I know he has a deep understanding of monetary policy, markets, and the important role the nation’s banks play in the economy. We look forward to learning more about his current policy views during the confirmation process and ultimately seeing a smooth transition in Fed leadership.”
Independent Community Bankers of America CEO Rebeca Romero Rainey
“ICBA and the nation’s community banks congratulate Kevin Warsh on his nomination to serve as chairman of the Federal Reserve Board. As a previous member of the Fed board, Warsh has demonstrated a clear understanding of the important role of community banks in the nation’s economy and the need for tiered regulations to support access to banking services in local communities.”
‘The Big Money Show’ panel reacts to President Donald Trump’s Fed pick as markets weigh the future of interest rates and monetary policy.
On Friday, President Donald Trump announced his nomination of Kevin Warsh as the next chairman of the Federal Reserve, concluding a lengthy deliberation process.
Warsh, who previously served on the Fed’s Board of Governors from 2006 to 2011, was also considered for the chairman position when Trump nominated Jerome Powell in 2017. Powell was reappointed for a second term in 2022, which is set to expire in May.
Before his tenure at the Fed, Warsh gained experience in the private sector with JPMorgan and served in President George W. Bush’s administration. His initial appointment made him the youngest Fed governor in history.
Former Fed Governor Kevin Warsh was nominated by President Donald Trump to serve as the next Fed chairman. (Daniel Acker/Bloomberg via Getty Images / Getty Images)
Since his time at the Fed, Warsh has held various roles, including positions at the Hoover Institution and Stanford’s Graduate School of Business, as well as serving on the board of UPS. He has also been part of a panel of economic advisers to the Congressional Budget Office.
Numerous business leaders and executives have expressed their support for Warsh’s nomination, highlighting his qualifications for the role. Here’s what some of them had to say:
WHO IS KEVIN WARSH, TRUMP’S PICK TO SUCCEED JEROME POWELL AS FED CHAIR?
Bank of America CEO Brian Moynihan issued a statement expressing support for Warsh’s nomination. (John Lamparski/Getty Images / Getty Images)
Bank of America CEO Brian Moynihan
“I have known Kevin for many years in his many capacities serving our country, and his background and experience are suited to the role. I wish him well through the process ahead.”
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BAC | BANK OF AMERICA CORP. | 53.23 | +0.19 | +0.36% |
UPS CEO Carol Tomé
“Since joining the UPS Board more than 13 years ago, Kevin Warsh has served as a trusted advisor and colleague. His deep financial markets knowledge, global economic insight, crisis management expertise, and sound judgment have made him an invaluable member of our Board. On behalf of our more than 400,000 employees, we celebrate his nomination and willingness to serve our country in this key role.”
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| UPS | UNITED PARCEL SERVICE INC. | 106.22 | +0.26 | +0.25% |
LAWMAKERS REACT TO TRUMP NOMINATING KEVIN WARSH FOR FEDERAL RESERVE CHAIRMAN
U.S. Chamber of Commerce CEO Suzanne Clark
“Kevin is well known to the business community. We appreciate his years of focus on how we grow the economy and maintain stable prices for America’s families, and look forward to his confirmation process.”
Investment Company Institute (ICI) CEO Eric Pan
“Warsh’s wealth of experience in monetary policy and financial regulation, along with his deep understanding of the Federal Reserve’s dual mandate, will serve him well in this position. His unique background as a former Federal Reserve Governor, combined with his experience in global financial markets, provides a solid foundation for this leadership role. We commend President Trump for this outstanding nomination and look forward to collaborating with Warsh to support the millions of American investors we serve.”
TRUMP’S FED PICK KEVIN WARSH FACES UNEXPECTED ROADBLOCK OVER ONGOING POWELL PROBE
Warsh previously served on the Fed’s Board of Governors from 2006 to 2011. (Tierney L. Cross/Bloomberg via Getty Images / Getty Images)
American Bankers Association CEO Rob Nichols
“In selecting Warsh, President Trump has chosen an experienced and tested policymaker who previously served at the Fed during one of its most challenging moments. Having worked alongside him in the Bush administration, I know he has a deep understanding of monetary policy, markets, and the important role the nation’s banks play in the economy. We look forward to learning more about his current policy views during the confirmation process and ultimately seeing a smooth transition in Fed leadership.”
Independent Community Bankers of America CEO Rebeca Romero Rainey
“ICBA and the nation’s community banks congratulate Kevin Warsh on his nomination to serve as chairman of the Federal Reserve Board. As a previous member of the Fed board, Warsh has demonstrated a clear understanding of the important role of community banks in the nation’s economy and the need for tiered regulations to support access to banking services in local communities.”
