Trump Names Kevin Warsh as Top Contender for Federal Reserve Chair
President Donald Trump has identified Kevin Warsh, a former Federal Reserve governor, as his leading candidate to chair the Federal Reserve when Jerome Powell's term concludes next May. Trump emphasized that the next Fed chair should heed his guidance on interest rate directions, noting that Warsh agrees with this approach. He remarked that there are "two Kevins who are great," referencing Kevin Warsh and Kevin Hassett, the head of the National Economic Council, who is also under consideration for the role.
Powell has held the position for eight years and has resisted Trump's calls for more aggressive interest rate cuts, a stance that has drawn public criticism from the President. Most recently, the Fed cut rates by a quarter point—the third cut of the year—with policymakers signaling limited further cuts amid economic uncertainty. Powell has highlighted the Fed's need to balance significant downside risks to the job market with inflation pressures stemming from tariffs.
Trump has been vocal in attacking Fed policymakers and has even attempted to remove a member of the rate-setting committee, signaling his desire for greater White House influence over Federal Reserve decisions.
