Trump Moves To Install Kevin Warsh At Helm Of Federal Reserve
By CU Today Staff —
WASHINGTON — President Donald Trump said he will nominate former Federal Reserve Governor Kevin Warsh to succeed Jerome Powell as chair of the central bank, elevating a longtime GOP economic figure to lead an institution Trump has repeatedly criticized for not cutting interest rates, POLITICO reported.
Warsh, 55, is currently a visiting fellow at Stanford University’s Hoover Institution and is a former Morgan Stanley investment banker who previously advised President George W. Bush. He has remained a prominent voice in Republican economic policy circles and has been considered for senior roles in Trump’s orbit since the president’s first term, POLITICO said.
“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,” Trump wrote in a social media post Friday. “On top of everything else, he is ‘central casting,’ and he will never let you down,” according to POLITICO.
Other contenders for the Fed chairmanship included BlackRock executive Rick Rieder, longtime Trump adviser Kevin Hassett, and current Fed Governor Christopher Waller. Treasury Secretary Scott Bessent, who led the vetting process, was also considered before withdrawing from contention, POLITICO reported.
Powell's term as chair expires in May.
Originally reported by CU Today.