Donald Trump announces Kevin Warsh as next Fed chair, replacing Jerome Powell
7 days ago
- #Donald Trump
- #Economic Policy
- #Federal Reserve
- Donald Trump has chosen Kevin Warsh, a former Federal Reserve governor, to replace Jerome Powell as the next Fed chair.
- Warsh's appointment requires Senate confirmation and marks a potential shift in Fed policies, aligning more closely with Trump's preferences.
- Warsh, who served on the Fed's board from 2006 to 2011, has historically been a hawk on interest rates but recently expressed support for lower rates.
- Trump's selection of Warsh is seen as an effort to exert more control over the Fed, raising concerns about the central bank's independence.
- Warsh's potential leadership could face challenges from within the Fed's rate-setting committee and financial markets, especially regarding interest rate policies.
- Warsh's background includes being the youngest Fed governor at age 35 and current roles at the Hoover Institution and Stanford Graduate School of Business.
- Trump had previously considered Warsh for the Fed chair position during his first term but chose Powell instead.