WASHINGTON, D.C. — President Donald Trump said Friday that he will nominate Kevin Warsh to serve as chairman of the Board of Governors of the Federal Reserve System, selecting a former Fed governor with deep experience in monetary policy, global finance, and government.
“I am pleased to announce that I am nominating Kevin Warsh to be the CHAIRMAN OF THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM,” Trump said in a statement.
Warsh currently serves as the Shepard Family Distinguished Visiting Fellow in Economics at the Hoover Institution and as a lecturer at the Stanford Graduate School of Business. Trump noted that Warsh is also a partner of Stanley Druckenmiller at Duquesne Family Office and has conducted extensive research in economics and finance.
According to Trump, Warsh earned his A.B. from Stanford University and his J.D. from Harvard Law School. The president also highlighted Warsh’s international work, saying he “issued an Independent Report to the Bank of England proposing reforms in the conduct of Monetary Policy in the United Kingdom,” adding that “Parliament adopted the Report’s recommendations.”
Warsh previously served as a member of the Board of Governors of the Federal Reserve System from 2006 until 2011. Trump emphasized that Warsh “became the youngest Fed Governor, ever, at 35,” and held several senior roles during his tenure. These included serving “as the Federal Reserve’s Representative to the Group of Twenty (G-20)” and “as the Board’s Emissary to the Emerging and Advanced Economies in Asia.”
In addition to his external responsibilities, Warsh also oversaw internal operations at the Fed. Trump said he served as “Administrative Governor, managing and overseeing the Board’s operations, personnel, and financial performance.”
Before joining the Federal Reserve, Warsh worked in the White House from 2002 to 2006 as Special Assistant to the President for Economic Policy and as Executive Secretary of the National Economic Council. His private-sector background includes work at Morgan Stanley & Co. in New York, where he served as vice president and executive director in the mergers and acquisitions department.
Trump offered strong personal praise for the nominee, saying, “I have known Kevin for a long period of time,” and adding that he has “no doubt that he will go down as one of the GREAT Fed Chairmen, maybe the best.” Trump also said, “On top of everything else, he is ‘central casting,’ and he will never let you down.”
If confirmed, Warsh would succeed Jerome Powell, who has served as Federal Reserve chair since 2018. Powell, first nominated by Trump during his earlier term, led the central bank through the COVID-19 pandemic and a period of sharply rising inflation, during which the Fed raised interest rates aggressively to rein in price pressures. His tenure has had wide-ranging effects on U.S. and global financial markets. (Source: IANS)
