Trump, expressing his confidence in the candidate, noted: "I have known Kevin for a long time and I am convinced that he will become one of the GREAT chairmen of the Fed, possibly even the best. He is the 'perfect candidate' and will not let you down."
Now Warsh's nomination must receive Senate approval. If confirmed, he will replace Jerome Powell, whose term expires in May 2026. Trump has repeatedly criticized Powell for his unwillingness to lower the key interest rate.
In early January 2026, the prosecutor's office initiated a criminal investigation against Powell regarding expenses for the renovation of the Fed's main office. Powell claims that this case is related to his opposition to the Trump administration on interest rate issues.
According to CNN, Kevin Warsh is a "fairly typical" candidate for the position of Fed chairman. At 55 years old, he has already served on the Board of Governors of the Fed from 2006 to 2011, and also worked as an economist in the White House during George W. Bush's presidency. He is currently a visiting fellow at the Hoover Institution at Stanford.
