President Donald Trump announced Friday he is nominating former Federal Reserve Gov. Kevin Warsh to succeed Jerome Powell as the next chairman of the central bank.
Trump wrote in a Truth Social post that he has known Warsh “for a long period of time, and have no doubt that he will go down as one of the GREAT Fed Chairmen, maybe the best.” He added that “on top of everything else,” Warsh “is ‘central casting,’ and he will never let you down.”
When reached for comment, the Fed told the Daily Caller News Foundation that it did not have anything to share.
Warsh served as a member of the Fed’s board of governors from 2006 until 2011, and currently serves as the shepard family distinguished visiting fellow in economics at the Hoover Institution and a lecturer at the Stanford Graduate School of Business, according to a biography on Georgetown University’s website.
Trump held a meeting with Warsh in the Oval Office on Thursday to offer him the Fed chair gig, NBC News reported on Friday, citing an anonymous senior administration official.
The Department of Justice (DOJ) opened a criminal investigation into Powell earlier in January. Powell, whose term as Fed chair concludes in May 2026, alleged on Jan. 11 that Trump is attempting to “manipulate” the Fed through the criminal perjury investigation.
Republican North Carolina Sen. Thom Tillis wrote in part of a Friday X post that though Warsh “is a qualified nominee with a deep understanding of monetary policy,” he still plans to “oppose the confirmation of any Federal Reserve nominee, including for the position of Chairman, until the DOJ’s inquiry into Chairman Powell is fully and transparently resolved.”
Earlier in January, Tillis notably pledged to block all of President Donald Trump’s future appointees to the central bank due to the DOJ’s criminal probe into Powell.
Tillis serves as a member of the Senate Banking, Housing, and Urban Affairs Committee, which presently has 11 Democrats and 13 Republicans. The refusal of even a single GOP member on that committee to vote for a presidential nominee could leave Warsh’s nomination in jeopardy, The Hill reported on Friday.
Moreover, Democratic Massachusetts Sen. Elizabeth Warren, ranking member of the Senate Banking, Housing, and Urban Affairs Committee, wrote in a Friday statement that “Trump said anybody who disagrees with him will never be Fed Chair. Kevin Warsh – who cared more about helping Wall Street after the 2008 crash than millions of unemployed Americans – has apparently passed the loyalty test.”
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