President Donald Trump said Friday he is nominating Kevin Warsh to be the next Federal Reserve chair. Warsh will take over from Federal Reserve Chair Jerome Powell, whose term as chair ends in May. The role requires Senate confirmation.
The announcement caps an extensive search that started in September and was spearheaded by Treasury Secretary Scott Bessent, who whittled down a list of half a dozen candidates and presented four finalists to the president.
Trump has castigated Powell for months, calling him a “numbskull,” a “moron” and a “jerk” for not lowering interest rates more quickly. His administration also launched a criminal investigation of Powell and the Fed earlier this month, which led Powell to issue an extraordinary rebuke of Trump’s efforts to politicize the independent central bank.
