Bloomberg reported Thursday that the Trump administration plans to appoint former Fed Governor Kevin Warsh to be the subsequent Fed chairman, citing folks accustomed to the scenario.
Warsh, 55, visited the White Home on Thursday. His choice coincides with President Donald Trump's push to decrease rates of interest earlier than present Chairman Jerome Powell's time period ends in Could.
The nomination faces potential obstacles. Sen. Thom Tillis has vowed to dam any Fed nominee till the Justice Division's investigation into the central financial institution's renovations is resolved.
Mr. Warsh served on the Federal Reserve Board from 2006 to 2011, making him the youngest particular person appointed at age 35. He served because the Fed's liaison to Wall Avenue throughout the 2008 monetary disaster and represented the USA on the G20.
Earlier than becoming a member of the Fed, Mr. Warsh was a vice chairman at Morgan Stanley from 1995 to 2002 after which served as an financial coverage aide within the Bush administration's White Home.
In April 2025, Warsh gave a speech to the G30 and IMF about “central banks at a crossroads” and advocated for transparency reform on the Fed.
Treasury Secretary Scott Bessent has named Warsh amongst his potential candidates to exchange Powell in October 2025. His hawkish stance on financial coverage might create pressure with Trump, who favors low rates of interest.
