US EditionTrump nominates Kevin Warsh for Federal Reserve chair to succeed Jerome Powell
- On Friday, President Donald Trump announced he will nominate former Federal Reserve governor Kevin Warsh to succeed Jerome Powell as Fed chair if confirmed by the U.S. Senate.
- Seeking a chair more open to his rate agenda, President Donald Trump chose Warsh, who has argued the Fed should be more aggressive on lowering rates amid recent Fed meetings and DOJ investigation.
- Warsh's record shows he has criticized the Fed's quantitative easing and argued its balance sheet, now at $6.5 trillion, can be reduced significantly, urging lower interest rates.
- Markets reacted swiftly, with investors and analysts lifting the US dollar and lowering dollar‑priced commodities, while Sen. Thom Tillis vowed to block Trump nominees amid Senate Banking Committee splits.
- Looking ahead, Warsh's record as a hard money hawk and his ties to Jane Lauder and Ronald Lauder raise concerns about Fed independence amid potential White House influence on future Fed policy direction.
174 Articles
174 Articles
Trump will have been inclined to a "other Kevin" (Hasset) that would give him more guarantees of service. But, pressured by the markets, he chose Kevin Warsh, who already gave independent samples.
U.S. President Donald Trump confirmed this Friday that the one elected to succeed...
US President Donald Trump has nominated Kevin Warsh, a former Fed board member who has been critical of his policies, to succeed Jerome Powell as governor of the US central bank.
President U.S. has indicated him as successor of Powell, whose mandate will expire in May: so the conversion of the economist convinced the White House
The choice comes after months of commotion surrounding current chairman Jerome Powell, who, according to Trump, was too slow in lowering the interest rate.
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