Trump Nominates Kevin Warsh As Federal Reserve Chair
Trump nominated Kevin Warsh on Jan. 30 to be Fed chair; Powell's term expires in May 2026 and Warsh faces Senate confirmation.
Overview
President Donald Trump nominated Kevin Warsh to be chairman of the Federal Reserve on Jan. 30, White House officials said, setting up a Senate confirmation before Jerome H. Powell's term expires in May 2026.
Economic experts offered mixed reactions to the nomination, with Jason Furman posting on X that Warsh is "well above the bar on both substance and independence" while critics called him a partisan "chameleon," analysts said.
Sen. Thom Tillis, R-N.C., wrote on X on Jan. 30 that he will oppose confirmation of any Federal Reserve nominee until the Department of Justice probe into Jerome H. Powell's handling of Fed renovations is resolved.
Kevin Warsh, 55, served on the Federal Reserve Board of Governors from 2006 to 2011, worked at JPMorgan and in the George W. Bush administration and currently is a Hoover Institution fellow and Stanford Graduate School of Business lecturer, institutional biographies show.
Warsh must undergo hearings and a vote in the Senate Banking Committee chaired by Sen. Tim Scott, R-S.C., and could face a rare floor-discharge vote requiring 60 senators, analysts said, potentially delaying any elevation before May 2026.
Analysis
Center-leaning sources frame Warsh’s nomination as a cautious, market-focused development that heightens concerns about Fed independence. Through selective emphasis—highlighting investors’ relief, expert warnings about political pressure, his Wall Street ties and family links—and evaluative descriptors (e.g., 'under-fire,' 'lambasting'), the coverage privileges institutional risk and uncertainty.
Sources (50)
FAQ
Kevin Warsh, born April 13, 1970, worked at Morgan Stanley, served as economic advisor in the George W. Bush administration, was a Federal Reserve Governor from 2006 to 2011 during the 2008 financial crisis, and is currently a Hoover Institution fellow and Stanford lecturer.
Trump nominated Warsh on January 30, 2026; Powell's term expires in May 2026; Warsh requires Senate Banking Committee hearings and confirmation, potentially needing a 60-senator floor vote.
Mixed reactions: Jason Furman praised him as above the bar on substance and independence; critics called him a partisan chameleon; Sen. Thom Tillis opposes until DOJ probe on Powell is resolved; White House hails his qualifications.
Formerly a hawk favoring higher rates for inflation control during 2008 crisis; recently supports lower rates, argues tariffs are not inflationary, criticizes Fed's mission creep, but opposed a large rate cut in 2024.
Hearings and vote in Senate Banking Committee chaired by Sen. Tim Scott (R-S.C.); may require rare 60-senator floor-discharge vote, potentially delaying before May 2026.
History
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