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Trump nominates Kevin Warsh for Federal Reserve chair to succeed Jerome Powell
Trump nominates Kevin Warsh, a former Fed governor, seeking a chair who will pursue larger interest-rate cuts amid ongoing Senate confirmation challenges.
- 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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Trump names former Federal Reserve official Kevin Warsh as the next Fed chair to replace Powell
WASHINGTON — President Donald Trump said Friday that he will nominate former Federal Reserve official Kevin Warsh to be the next chair of the Fed, a decision likely to result in sharp changes to the powerful agency that could bring it closer to the White House. Warsh would replace current chair Jerome Powell when his term expires in May. Trump chose Powell to lead the Fed in 2017 but this year has relentlessly assailed him for not cutting intere…
·Chicago, United States
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Trump names Kevin Warsh, former Federal Reserve official, as next Fed chair to replace Powell
President Donald Trump said Friday that he will nominate former Federal Reserve official Kevin Warsh to be the next chair of the Fed, a decision likely to result in sharp changes to the powerful agency that could bring it closer to the White House.
·Washington, United States
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Coverage Details
Total News Sources245
Leaning Left41Leaning Right36Center82Last UpdatedBias Distribution51% Center
Bias Distribution
- 51% of the sources are Center
51% Center
L 26%
C 51%
R 23%
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