US President Donald Trump announced this Friday (30) American banker and economist Kevin Warsh as the future president of the Federal Reserve (Fed, central bank), replacing Jerome Powell, whose term ends in May. The nomination still requires Senate confirmation.
“I am pleased to announce that I am nominating Kevin Warsh to chair the Federal Reserve,” wrote Trump on the Truth Social platform, where he provided details about his nominee’s resume, highlighting that, at age 35, he became the youngest governor in the history of the Fed (2006-2011).
“I have known Kevin for a long time and have no doubt that he will be remembered as one of the GREAT Fed chairs, perhaps the best,” Trump said. “Apart from everything, he is perfect for the role and never disappoints. Congratulations, Kevin!”, continued the president.
Among the details that the White House leader highlighted from Kevin Warsh’s resume are his role in 2006 as the youngest governor of the Fed system, as an economic advisor to George W. Bush and his ties to the Hoover Institution, one of the most important think tanks with conservative thinking in California.
Warsh, now 55 years old, was considered as a candidate to assume the presidency of the Fed during Trump’s first term, however the president ended up choosing Jerome Powell in 2017.
Recently, the economist has been changing his position on monetary policy, in clear alignment with the US president’s vision. Previously a hard-line defender of inflation control, Warsh is now in favor of lower interest rates, as confirmed by different public statements he has made in recent months.
The change of Fed president comes at a time of strong friction between Trump and Powell. The Republican has aggressively criticized the central bank’s current leadership in recent months and even opened an investigation into the excessive costs of renovations to the Federal Reserve building, while simultaneously calling for an acceleration of interest rate cuts, which began in September 2024.
If confirmed by the Senate, Warsh would take command of a Fed whose independence has been questioned after Trump has insisted since his return to the White House in January 2025 that interest rates must fall steadily and quickly.
