Trump Nominates Kevin Warsh to be Next Fed Chairman

Opting for a conventional choice to lead the Federal Reserve, President Donald Trump on Friday nominated former Fed governor Kevin Warsh to serve as the next chairman of the central bank, succeeding Jerome Powell, Jennifer Schonberger reported for Yahoo Finance.

Trump interviewed Warsh for the Fed chair position eight years ago before selecting Powell—a choice Trump quickly came to regret. (Photo: Hoover Institution)

“I have known Kevin for a long period of time, and have no doubt that he will go down as one of the GREAT Fed chairmen—maybe the best. On top of everything else, he is ‘central casting,’ and he will never let you down,” Trump said in an announcement posted on Truth Social.

Warsh brings extensive experience at the central bank. He was appointed by President George W. Bush to serve as a Fed governor from 2006 to 2011 and acted as former Fed Chairman Ben Bernanke’s liaison to Wall Street during the 2008 financial crisis.

Before joining the Fed, Warsh served as special assistant to Bush for economic policy and as executive secretary at the National Economic Council, where he advised the president and senior administration officials on the U.S. economy.

He also worked in mergers and acquisitions at Morgan Stanley.

Warsh holds a degree in public policy with a concentration in economics and statistics from Stanford University, as well as a law degree from Harvard.

He is a familiar figure to Trump, who interviewed him for the Fed chair position eight years ago before selecting Powell—a choice Trump quickly came to regret.

This time, Warsh emerged as the pick over other finalists, including current Fed Governor Chris Waller, BlackRock fixed-income chief Rick Rieder, and National Economic Council Director Kevin Hassett.