US President Donald Trump said he will nominate former Federal Reserve governor Kevin Warsh to replace Jerome Powell as chair of the US central bank, setting up what is likely to be a closely watched Senate confirmation fight.
Trump announced the pick on his social media platform, calling Warsh a strong leader and saying he believes he could become one of the best Fed chairs in history.
Warsh, 55, served on the Fed’s board from 2006 to 2011 and later worked as a banker at Morgan Stanley. He has often criticized the Fed’s easy-money policies and argued for tighter control of inflation and a smaller balance sheet.
He has also taken a more open stance toward Bitcoin than Powell, saying digital assets do not threaten the Fed’s role and could help bring more discipline to financial markets.
Investors have increasingly viewed Warsh as Trump’s top choice in recent weeks. If confirmed by the Senate, he would take over at a time of market uncertainty, with debates over interest rates, inflation and government spending still weighing on the economy.
The nomination now heads to the Senate, where lawmakers are expected to question Warsh on his views on monetary policy and financial regulation.
Featured image from: x.com