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Informist, Friday, Jan. 30, 2026

 

--Trump: Nominate Kevin Warsh to be Chairman of US Federal Reserve Board

 

NEW DELHI – US President Donald Trump has nominated Kevin Warsh, a former governor of the US Federal Reserve, to serve as the next chair of the board of governors of the US Federal Reserve System. Incumbent Jerome Powell's term as chair is scheduled to end in May.

 

"I have known Kevin 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. On top of everything else, he is "central casting," and he will never let you down," Trump said in a post on his social media platform Truth Social.  More

 

Warsh is currently a lecturer linked to top universities and Right-wing think tanks and has worked with private family offices as well as Morgan Stanley. He became the youngest member of the US Fed's board of governors when he was appointed in 2006 at the age of 35, serving until 2011. Warsh has also worked in economic advisory roles at the White Hourse under the George W. Bush administration, between 2002 and 2006.

 

During his time as a policymaker, Warsh was known for favouring higher interest rates to keep a check on inflation. In recent weeks, he has sharply criticised the current Fed and its members and called for "regime change". He is seen supporting the US president's call for lower interest rates. US Fed funds futures are pricing in a further 50 basis points of cut in the federal funds target range from the current 3.50-3.75%, though traders may reassess those bets after Warsh was nominated. The 10-year US Treasury yield was little changed at 4.25?ter the announcement.

 

Trump had said he would announce his US Fed chair appointee on Friday. He has publicly and persistently demanded that the Federal Open Market Committee, which sets US interest rates, cut interest rates in a hurry to bolster the world's largest economy. This has led to him constantly criticising the current chair, calling him Jerome "Too Late" Powell on social media. This continued after the latest FOMC decision, when the committee held the benchmark rate in a 10-2 vote.

 

The two members voting for a cut – Stephen I. Miran and Christopher J. Waller – are already linked with Trump. Miran is also head of the US Council of Economic Advisers, while Waller was considered one of the four frontrunners for the role given to Warsh. Trump was also reportedly considering economist Kevin Hassett, a long-time "loyalist" with personal ties, and BlackRock bond executive Rick Rieder.

 

The Fed chair will be appointed for a period of four years, once confirmed by the US Senate. Powell is serving his second term as chair, having first been appointed by Trump during his first term as president in 2018. The latest term of the Fed chair is scheduled to end on May 22. However, he has recently become embroiled in controversy amid questions on the US central bank's independence.

 

The US Justice Department served a subpeona to the Fed and Powell earlier in January, seeking to charge him criminally due to cost overruns in the renovation of some Federal Reserve buildings. Trump has already tried to fire US Fed Governor Lisa Cook on different charges. Even as the controversy continues, Powell's term on the Fed's board of governors is scheduled to end only in 2028. He may remain on the board or resign after his term as chair ends.  End

 

Reported by Aaryan Khanna

Edited by Avishek Dutta

 

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