Dmytro Hubenko If confirmed by the US Senate, Kevin Warsh, a former Federal Reserve Governor, will become the next chair of the Federal Reserve System (FRS), the US central bank.
Trump names former FRS official as next Fed chair
If confirmed by the US Senate, Kevin Warsh, a former Federal Reserve Governor, will become the next chair of the Federal Reserve System (FRS), the US central bank.
Former US Federal Reserve Governor Kevin Warsh speaks during a monetary policy conference at Stanford University’s Hoover Institution in Palo Alto, California, US
Kevin Warsh has often criticized the US central bank [FILE: May 2025]Image: Ann Saphir/REUTERS
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President Donald Trump on Friday nominated former Federal Reserve Governor Kevin Warsh to lead the US central bank after Jerome Powell’s term ends in May.
“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 wrote on his Truth Social platform.
If confirmed by the US Senate, Warsh will replace current Federal Reserve Chairman Jerome Powell, whom Trump has repeatedly criticized for his decisions regarding interest rates.
What do we know about Kevin Warsh?
Warsh served on the Federal Reserve System’s Board of Governors from 2006 to 2011. He was the youngest governor in history when he was appointed at age 35. Previously, Warsh used to be a mergers and acquisitions banker at Morgan Stanley.
During his first term, Trump also considered Warsh for the position of Federal Reserve Chair, to replace Janet Yellen. However, he eventually chose Powell.
Currently, Warsh is a fellow at the conservative Hoover Institution and a lecturer at the Stanford Graduate School of Business. Recently, he has stepped up his criticism of the Fed, endorsing many of Trump’s and his administration’s policy positions.
Warsh said he believes the US president is right to urge the central bank to implement significant rate cuts. He also criticized the Fed for underestimating the inflation-fighting potential of productivity growth fueled by artificial intelligence.
