US EditionTrump officially nominates Kevin Warsh as Fed chair to replace Jerome Powell
Kevin Warsh, nominated to a 14-year Fed Board term, would serve four years as chair if confirmed amid political pressures and a DOJ probe into Jerome Powell.
- The White House announced on Wednesday that President Donald Trump officially nominated Kevin Warsh to replace Jerome Powell as Fed chair, following the January 30 announcement.
- Given Powell's Feb. 11 disclosure of a DOJ investigation, the nomination follows pressure from President Trump to lower rates since he took office last year.
- Kevin Warsh, a former Fed board member and private-sector partner, was nominated to a 14-year Board term that started Feb. 1 and holds roles at Duquesne Family Office, Hoover Institution, and Stanford Graduate School of Business.
- The confirmation process hinges on the U.S. Senate, and `Tillis said` he would block Warsh's nomination until the DOJ inquiry into Powell is resolved, citing the importance of Fed independence.
- The pending Supreme Court decision in the Cook case, heard in January, adds to governance uncertainty at the Fed amid the administration's failed attempt to fire her in August and her lawsuit.
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What will the Fed's “Warsh era” bring?
PHILADELPHIA – Kevin Warsh’s nomination to succeed Jerome Powell as U.S. Federal Reserve chair has triggered a predictable frenzy of speculation centered on a single, narrow question: How hard will he push for interest-rate cuts? While such conjecture may be entertaining, it misses the forest for the trees. To focus solely on rate cuts is to misunderstand the Fed’s situation and the scale of the challenge awaiting its next leader. Warsh inherits…
US President Donald Trump has formally nominated Kevin Warsh as the new head of the Federal Reserve (Fed).
White House sends next Fed chair nomination to Senate
NEW YORK, March 4 (Xinhua) -- The White House has sent the U.S. Senate the nomination of Kevin Warsh to be the next chairman of the board of governors of the Federal Reserve System for a term of four years, according to a release from the White House on Wednesday. Read full story
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