Name: President Trump names Kevin Warsh as the next Federal Reserve Chair
Uploaded: 2026-01-30T17:01:46.000Z
Duration: 1 min 24 s
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US President Donald Trump named former Federal Reserve Governor Kevin Warsh to lead the Federal Reserve, tapping an advocate for overhauling the central bank to lead the institution.

In a post on social media, Trump wrote, quote, I have known Kevin for a long period of time and have no doubt that he will go down as one of the great Fed chairman, maybe the best.

On top of everything else, he is central casting and he will never let you down.

The position requires confirmation by the US Senate.

If confirmed, Warsh will replace outgoing Chairman Jerome Powell.

Trump frequently lambasted Powell and the Fed for not caving to his demands for lower interest rates.

The Fed has long been seen as a stabilizing force in global financial markets, due in no small part to its perceived independence from politics.

The Justice Department is now conducting a probe into renovation cost overruns at the central bank's headquarters, a move Powell has denounced as a pretext to pressure him on policy.

The Fed held rates steady this week, having cut three times last year.

A lawyer and distinguished Visiting fellow in economics at Stanford University's Hoover Institution, Warsh has said he believes that the president is right to press the central bank for steep interest rate reductions.

He has also called for a broad overhaul of the central bank that would slim its balance sheet and ease bank regulations.

He will now be responsible for an institution he has said should scale back its footprint in the economy and change the way it manages monetary policy.