Trump Names Kevin Warsh as Top Candidate for Federal Reserve Chair
Former President Trump has identified Kevin Warsh as his leading choice to succeed Jerome Powell as chair of the Federal Reserve when Powell's eight-year term ends next May. Trump also mentioned Kevin Hassett as a potential candidate, describing both Kevins as great options. Speaking to the Wall Street Journal on Friday, Trump publicly advocated for Warsh on rate policy, asserting that Warsh believes interest rates should be lowered—a view Trump claims is shared by others.
Trump emphasized that the next Fed chair should heed his perspective on rate direction, calling himself a smart voice that deserves attention. Since January, Trump has criticized the Fed's cautious approach to cutting rates and even attempted to remove a member of the Fed's rate-setting committee.
Earlier in the week, the Federal Reserve lowered rates by 0.25 percentage points, marking the third cut of the year. Policymakers signaled reluctance to implement more than one cut next year. Powell said the Fed is balancing significant downside risks to jobs with inflation pressures caused by tariffs linked to Trump's trade policies.
