Summary
President Trump announced Kevin Warsh as his nominee for the next chair of the Federal Reserve. Warsh, a former Federal Reserve governor, has been chosen to replace Jerome Powell when his term ends in May. Warsh has prior experience in the Federal Reserve and a background in Wall Street.
Key Facts
- President Trump nominated Kevin Warsh to be the new chair of the Federal Reserve.
- Warsh previously served as a governor at the Federal Reserve and has Wall Street experience.
- Jerome Powell's term as the current Fed chair ends in May.
- Warsh has previously advocated for interest rate cuts and has criticized the central bank's leadership.
- In 2006, Warsh became the youngest governor in the Federal Reserve's history at age 35.
- Warsh was previously considered for Fed chair in 2017 but was not selected.
- Scott Bessent, asked by Trump to shortlist candidates, included Warsh among other potential candidates.
- Warsh currently teaches at Stanford University's Graduate School of Business.
