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Trump nominates Kevin Warsh for Federal Reserve chair to succeed Jerome Powell
- On Friday, President Donald Trump announced he will nominate former Federal Reserve governor Kevin Warsh to succeed Jerome Powell as Fed chair if confirmed by the U.S. Senate.
- Seeking a chair more open to his rate agenda, President Donald Trump chose Warsh, who has argued the Fed should be more aggressive on lowering rates amid recent Fed meetings and DOJ investigation.
- Warsh's record shows he has criticized the Fed's quantitative easing and argued its balance sheet, now at $6.5 trillion, can be reduced significantly, urging lower interest rates.
- Markets reacted swiftly, with investors and analysts lifting the US dollar and lowering dollar‑priced commodities, while Sen. Thom Tillis vowed to block Trump nominees amid Senate Banking Committee splits.
- Looking ahead, Warsh's record as a hard money hawk and his ties to Jane Lauder and Ronald Lauder raise concerns about Fed independence amid potential White House influence on future Fed policy direction.
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Kevin Warsh was nominated by Donald Trump as a candidate for the Federal Reserve presidency as soon as Jerome Powell's term ends.
US President Donald Trump nominates former investment banker Kevin Warsh as next Fed boss. He has changed from insider to critic of the central bank. But does he also fulfill Trump's desire for low interest rates?
·Munich, Germany
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Total News Sources361
Leaning Left57Leaning Right52Center114Last UpdatedBias Distribution51% Center
Bias Distribution
- 51% of the sources are Center
51% Center
L 26%
C 51%
R 23%
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