In his statement, Trump expressed confidence that Warsh would become one of the most outstanding Fed Chairs, calling him the "perfect candidate" who would not let him down. "I have known Kevin for a long time and believe he will go down in history as one of the GREAT Fed Chairs," the president noted. Warsh's nomination is currently awaiting Senate approval. If confirmed, he will take the place of Jerome Powell, whose term expires in May 2026. Trump has previously criticized Powell, accusing him of being unwilling to lower the key interest rate.
In January 2026, the prosecutor's office began a criminal investigation against Powell related to expenses for the renovation of the Fed building. Powell claims that this investigation arose from his disagreements with the Trump administration over interest rates.
According to CNN, Warsh is a "fairly typical" candidate for the position of Fed Chair. He is 55 years old and served on the Board of Governors of the Fed from 2006 to 2011, and held the position of economist in the White House under George W. Bush. He is currently a visiting fellow at the Hoover Institution at Stanford.
