Trump Nominates Kevin Warsh as Next Federal Reserve Chair

U.S. President Donald Trump on Wednesday formally nominated Kevin Warsh to serve as the next Chair of the Federal Reserve, succeeding Jerome Powell.

If confirmed by the Senate, Warsh would assume the role for a four-year term, according to reports by CNBC.

The White House confirmed that Warsh’s nomination has been formally transmitted to the U.S. Senate, more than a month after Trump first signaled his intention to appoint him as head of the central bank.

However, the confirmation process may face political hurdles. Republican Senator Thom Tillis said he would block progress on Warsh’s nomination unless a federal criminal investigation into Powell is dropped by the U.S. Attorney’s Office in Washington, D.C.

The nature and status of the reported investigation were not immediately clarified.

Warsh previously served as a member of the Federal Reserve Board of Governors and has remained an influential voice in monetary policy debates. In 2025, during meetings of the International Monetary Fund and the World Bank in Washington, he referenced concerns raised by the IMF about slowing global growth, partly attributed to tariff policies enacted under Trump that contributed to a broader trade conflict.

Warsh is widely regarded as aligned with a more market-oriented and deregulatory approach, and his nomination signals a potential shift in the Federal Reserve’s policy direction at a time of heightened economic uncertainty, persistent inflation pressures, and geopolitical volatility.

The Senate confirmation hearings are expected to draw close scrutiny over Warsh’s views on interest rates, inflation management, and the independence of the Federal Reserve.