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Trump officially nominates Kevin Warsh as Fed chair to replace Jerome Powell
Kevin Warsh faces Senate opposition due to a Department of Justice probe into Jerome Powell, with Senator Thom Tillis pledging to block confirmation until the investigation ends.
- The White House announced on Wednesday that President Donald Trump officially nominated Kevin Warsh to replace Jerome Powell as Fed chair, following the January 30 announcement.
- Given Powell's Feb. 11 disclosure of a DOJ investigation, the nomination follows pressure from President Trump to lower rates since he took office last year.
- Kevin Warsh, a former Fed board member and private-sector partner, was nominated to a 14-year Board term that started Feb. 1 and holds roles at Duquesne Family Office, Hoover Institution, and Stanford Graduate School of Business.
- The confirmation process hinges on the U.S. Senate, and 'Tillis said' he would block Warsh's nomination until the DOJ inquiry into Powell is resolved, citing the importance of Fed independence.
- The pending Supreme Court decision in the Cook case, heard in January, adds to governance uncertainty at the Fed amid the administration's failed attempt to fire her in August and her lawsuit.
75 Articles
75 Articles
Kevin Warsh Nominated for Fed Governor
President Donald Trump on Wednesday formally nominated former Federal Reserve Governor Kevin Warsh to chair the U.S. central bank, advancing his push to install a Fed leader more open to cutting interest rates. If confirmed, Warsh would succeed Jerome Powell when Powell’s term as chair ends on May 15 and fill the board seat currently held by Stephen Miran, another Trump appointee who favors lower rates. But Warsh faces a difficult path to confi…
A shiny new Fed Chairman will be keen to make an entrance with a base rate cut—yet the committee is only growing more hawkish due to Iran
In the entirely likely event that Kevin Warsh’s nomination for Fed chairman makes it through Senate hearings, he’ll be keen to leave his first Federal Open Market Committee meeting (FOMC) this summer with a base rate cut in-hand. After all, in order to land the nomination to succeed Jerome Powell the directive from the Oval Office was explicit: The candidate would have to be more dovish than Powell. Warsh, a former Fed Governor, fits the bill: H…
Washington. Donald Trump, president of the United States, officially nominated former Federal Reserve Governor Kevin Warsh as the next head of the central bank, the White House reported.
US President Donald Trump has formally nominated Kevin Warsh as the new head of the Federal Reserve (Fed).
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