Trump Nominates Kevin Warsh for Fed Chair: Key Insights You Need to Know
President Donald Trump announces Kevin Warsh as his pick for new Federal Reserve chairman in a Truth Social post.
On Friday, President Donald Trump officially nominated Kevin Warsh to succeed Jerome Powell as the chairman of the Federal Reserve, putting an end to months of speculation regarding his choice for this pivotal role in U.S. economic policymaking.
In a post on Truth Social, Trump expressed his confidence in Warsh, 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!”
Before assuming this influential position, Warsh must first receive confirmation from the Senate.
Kevin Warsh, former governor of the US Federal Reserve, during the International Monetary Fund (IMF) and World Bank Spring meetings at the IMF headquarters in Washington, D.C., on April 25, 2025. (Tierney L. Cross/Bloomberg via Getty Images / Getty Images)
What to know about Kevin Warsh:
Born in 1970, Warsh holds a bachelor’s degree in public policy from Stanford University and a law degree from Harvard University. Interestingly, like Powell, he does not possess a formal economics degree; Powell graduated with a degree in politics from Princeton and also holds a law degree from Georgetown.
TRUMP NOMINATES KEVIN WARSH TO SUCCEED JEROME POWELL AS FEDERAL RESERVE CHAIR
Warsh’s career includes time in the private sector at JPMorgan before he joined President George W. Bush’s administration in 2002. His credentials in Republican policy circles were solidified when Bush nominated him to the Fed’s Board of Governors in 2006, making him the youngest Fed governor in history at just 35 years old.
Since leaving the Fed in 2011, Warsh has held various prestigious roles, including a Shepard Family Distinguished Visiting Fellow in Economics at the Hoover Institution and a visiting scholar at Stanford’s Graduate School of Business. He also serves on the board of UPS and is a trustee of the Group of Thirty and the Panel of Economic Advisers of the Congressional Budget Office.
In 2017, Warsh was considered by Trump to replace Janet Yellen as Fed chair, but the president ultimately chose Powell instead. He was also a contender for the treasury secretary position last fall before Trump nominated hedge fund manager Scott Bessent.
Federal Reserve Chair Jerome Powell arrives at the U.S. Federal Reserve in Washington on Jan. 13, 2026. (Nathan Howard/Reuters / Reuters)
FROM MORTGAGES TO CAR LOANS: HOW AFFORDABILITY RISES AND FALLS WITH THE FED
Warsh has been one of the most vocal critics of Powell, advocating for significant changes to the Fed’s policy approach. He has described the central bank’s economic models as outdated and opaque, expressing concerns about the expansion of its balance sheet.
Despite earning a reputation as a leading inflation “hawk” during his time on the Board of Governors, Warsh indicated as recently as last fall that the Fed could afford to ease borrowing costs. “Prices can be lower,” he stated in an interview, “but it’s going to require regime change at the Fed.”
While he has echoed Trump’s calls for Powell to lower interest rates throughout his candidacy, Warsh has been less specific about his preferred monetary policy path. Senators on the Banking Committee are expected to scrutinize his views during his confirmation hearing.
Kevin Warsh, former governor of the Federal Reserve, speaks during the American Economic Association (AEA) annual conference in Chicago, Illinois, on Jan. 6, 2017. (Daniel Acker/Bloomberg via Getty Images)
TRUMP VS THE FEDERAL RESERVE: HOW THE CLASH REACHED UNCHARTED TERRITORY
As the Federal Reserve grapples with interest rate decisions amid Trump’s tariffs, Warsh, who previously criticized protectionist trade policies, stated last summer that tariffs would not lead to lasting inflation. Following the announcement of tariffs, inflation has trended higher, hovering around 3%, which is above the Fed’s 2% target. Policymakers expect inflation to align closer to the target throughout 2026, barring any new tariff announcements.
Despite this, any assumption that Warsh would take a dovish stance on policy contradicts his record at the Fed, where he was critical of the central bank’s strategy to continue purchasing Treasury bonds while maintaining low interest rates during the 2008 housing crisis.
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Warsh’s connections to Wall Street, which reportedly remain robust, enabled him to serve as the Fed’s chief liaison to the banking sector during his tenure.
President Donald Trump announces Kevin Warsh as his pick for new Federal Reserve chairman in a Truth Social post.
On Friday, President Donald Trump officially nominated Kevin Warsh to succeed Jerome Powell as the chairman of the Federal Reserve, putting an end to months of speculation regarding his choice for this pivotal role in U.S. economic policymaking.
In a post on Truth Social, Trump expressed his confidence in Warsh, 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!”
Before assuming this influential position, Warsh must first receive confirmation from the Senate.
Kevin Warsh, former governor of the US Federal Reserve, during the International Monetary Fund (IMF) and World Bank Spring meetings at the IMF headquarters in Washington, D.C., on April 25, 2025. (Tierney L. Cross/Bloomberg via Getty Images / Getty Images)
What to know about Kevin Warsh:
Born in 1970, Warsh holds a bachelor’s degree in public policy from Stanford University and a law degree from Harvard University. Interestingly, like Powell, he does not possess a formal economics degree; Powell graduated with a degree in politics from Princeton and also holds a law degree from Georgetown.
TRUMP NOMINATES KEVIN WARSH TO SUCCEED JEROME POWELL AS FEDERAL RESERVE CHAIR
Warsh’s career includes time in the private sector at JPMorgan before he joined President George W. Bush’s administration in 2002. His credentials in Republican policy circles were solidified when Bush nominated him to the Fed’s Board of Governors in 2006, making him the youngest Fed governor in history at just 35 years old.
Since leaving the Fed in 2011, Warsh has held various prestigious roles, including a Shepard Family Distinguished Visiting Fellow in Economics at the Hoover Institution and a visiting scholar at Stanford’s Graduate School of Business. He also serves on the board of UPS and is a trustee of the Group of Thirty and the Panel of Economic Advisers of the Congressional Budget Office.
In 2017, Warsh was considered by Trump to replace Janet Yellen as Fed chair, but the president ultimately chose Powell instead. He was also a contender for the treasury secretary position last fall before Trump nominated hedge fund manager Scott Bessent.
Federal Reserve Chair Jerome Powell arrives at the U.S. Federal Reserve in Washington on Jan. 13, 2026. (Nathan Howard/Reuters / Reuters)
FROM MORTGAGES TO CAR LOANS: HOW AFFORDABILITY RISES AND FALLS WITH THE FED
Warsh has been one of the most vocal critics of Powell, advocating for significant changes to the Fed’s policy approach. He has described the central bank’s economic models as outdated and opaque, expressing concerns about the expansion of its balance sheet.
Despite earning a reputation as a leading inflation “hawk” during his time on the Board of Governors, Warsh indicated as recently as last fall that the Fed could afford to ease borrowing costs. “Prices can be lower,” he stated in an interview, “but it’s going to require regime change at the Fed.”
While he has echoed Trump’s calls for Powell to lower interest rates throughout his candidacy, Warsh has been less specific about his preferred monetary policy path. Senators on the Banking Committee are expected to scrutinize his views during his confirmation hearing.
Kevin Warsh, former governor of the Federal Reserve, speaks during the American Economic Association (AEA) annual conference in Chicago, Illinois, on Jan. 6, 2017. (Daniel Acker/Bloomberg via Getty Images)
TRUMP VS THE FEDERAL RESERVE: HOW THE CLASH REACHED UNCHARTED TERRITORY
As the Federal Reserve grapples with interest rate decisions amid Trump’s tariffs, Warsh, who previously criticized protectionist trade policies, stated last summer that tariffs would not lead to lasting inflation. Following the announcement of tariffs, inflation has trended higher, hovering around 3%, which is above the Fed’s 2% target. Policymakers expect inflation to align closer to the target throughout 2026, barring any new tariff announcements.
Despite this, any assumption that Warsh would take a dovish stance on policy contradicts his record at the Fed, where he was critical of the central bank’s strategy to continue purchasing Treasury bonds while maintaining low interest rates during the 2008 housing crisis.
CLICK HERE TO GET FOX BUSINESS ON THE GO
Warsh’s connections to Wall Street, which reportedly remain robust, enabled him to serve as the Fed’s chief liaison to the banking sector during his tenure.
