Trump nominates Kevin M. Warsh as next Federal Reserve chair

President Trump announced on Friday, Jan. 30, 2026, that he was nominating Kevin M. Warsh to serve as the next chair of the Federal Reserve; if confirmed by the Senate, Mr. Warsh would replace Jerome H. Powell when Mr. Powell’s term ends in May. Mr. Trump praised Mr. Warsh on Truth Social, saying, “He will go down as one of the GREAT Fed Chairmen, maybe the best,” and added that Mr.

Warsh was “central casting.” The president said he expected Mr. Warsh to cut interest rates but acknowledged he had not received a commitment. Mr. Warsh served as a Fed governor from 2006 to 2011, has worked as an aide to President George W. Bush, and currently works with investor Stanley Druckenmiller and as a senior fellow at the Hoover Institution.

There are immediate questions about which policy direction Mr. Warsh would take if confirmed. For much of his career he was viewed as an inflation hawk who favored higher rates, but more recently he has publicly backed the need for rate cuts and has called for “regime change in the conduct of policy.” Michael Feroli of J.P.

Morgan asked, “The question is, which Warsh are we going to get?” and critics have noted his shifts in views across different administrations. The nomination set off a partisan response in Washington. Senator Tim Scott, chair of the Senate Banking Committee, said Mr.

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