United States President Donald Trump has formally nominated Kevin M. Warsh as the next Chair of the Federal Reserve System.
Warsh is set to succeed Jerome Powell, whose term concludes in May 2026. The nomination follows remarks from the president a day earlier, when he signalled that the choice would be a figure well known across global financial markets
Commenting on the decision, Trump said the nominee should have held the position years ago.
He later confirmed the move in an official statement.
“I am pleased to announce that I am nominating Kevin Warsh to be the Chairman of the Board of Governors of the Federal Reserve System,” the president said.
Warsh’s Academic and Financial Background
Warsh currently serves as the Shepard Family Distinguished Visiting Fellow in Economics at the Hoover Institution. He is also a lecturer at the Stanford Graduate School of Business.
In addition to his academic work, Warsh is a partner at Duquesne Family Office LLC, where he works alongside investor Stanley Druckenmiller.
President Donald Trump on Friday named Kevin Warsh to succeed Jerome Powell as Federal Reserve chair, ending a five-month odyssey that has seen unprecedented turmoil around the central bank.
Full details: https://t.co/Ees3Gf3vv2 pic.twitter.com/mO9wXJyrCe
— CNBC (@CNBC) January 30, 2026Warsh was widely seen as a leading candidate for the role during Trump’s first term. At that time, Powell was appointed instead. Since then, relations between Trump and Powell have remained strained, largely due to disagreements over interest rate policy.
Warsh has consistently supported interest rate cuts. The benchmark rate currently stands between 3.5 per cent and 3.75 per cent. His policy views align closely with the president’s long-standing calls for looser monetary conditions.
Read: US Federal Reserve Keeps Interest Rates Unchanged Despite Trump Pressure
Warsh previously served as a member of the Federal Reserve Board of Governors from 2006 to 2011.
He held the role during the George W. Bush administration, gaining direct experience during a critical period for the U.S. financial system.
