President Trump Nominates Kevin Warsh as Federal Reserve Chair

According to the Economic Desk of Webangah News Agency, President Donald Trump has nominated Kevin Warsh as the next Chair of the Federal Reserve Board. In a post on Truth Social, Trump stated, “I am pleased to announce Kevin Warsh as my choice for Chairman of the Federal Reserve Board. I’ve known Kevin for a long time and have no doubt he will be remembered as one of the great Fed Chairs, perhaps the best.”

Trump described Warsh as a “pivotal choice” and expressed confidence that he would not disappoint. The nomination follows speculation about other potential candidates, including White House National Economic Council Director Kevin Hassett, whom Trump praised for his work but ultimately decided to retain in his current role.

Warsh, who advised Trump on economic strategy and previously served on the Federal Reserve Board from 2006 to 2011, would replace Jerome Powell, whose term ends in May. At 55, Warsh has recently aligned with Trump’s preference for lower interest rates, despite his earlier reputation as an inflation hawk.

However, confirmation may prove challenging. Some Republican senators, including Thom Tillis of North Carolina, have pledged to block any Fed nominations until the Justice Department completes an investigation into the central bank’s headquarters renovation. Tillis stated, “Fed nominees won’t move forward until the investigation and potential indictment against Chair Powell are resolved.” Senate Majority Leader John Thune echoed these concerns, suggesting Warsh’s confirmation is unlikely without Tillis’s support.

The nomination comes amid Trump’s ongoing criticism of Powell’s interest rate policies. Trump has repeatedly called for lower rates, arguing the U.S. should have the world’s lowest, ideally around 1%, compared to the current 3.5%-3.75% range.