Kevin Warsh Is Trump’s Nominee to Lead the Federal Reserve

President Trump has chosen Kevin M. Warsh as his nominee to be chairman of the Federal Reserve, the White House announced on Jan. 30, 2026. If confirmed by the Senate, Mr. Warsh would replace Jerome H. Powell when Mr. Powell’s term ends in May. Mr. Warsh, 55, served on the Fed from 2006 to 2011 after being installed by President George W.

Bush and established himself as an inflation hawk who urged higher interest rates and warned about price pressures. In May 2008 he said, "Even if the economy were to weaken somewhat further, we should be inclined to resist expected, reflexive calls to trot out the hammer again." He was the Fed’s chief liaison to Wall Street during the financial crisis and helped broker the sale of Bear Stearns to JPMorgan Chase and arrange the federal government’s bailout of American International Group.

More recently, Mr. Warsh has publicly backed the need for interest rate cuts, aligning with President Trump’s demands, and has argued that Mr. Trump’s tariffs will not lead to persistently higher inflation. He has said his current support for lower rates is consistent with his earlier stance and has urged the Fed to reduce its holdings of bonds—currently worth more than $6 trillion—which he says would allow cuts without causing inflation to rise, a view that few mainstream economists endorse.

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