The White House indicated that Kevin Warsh is expected to take over as Chair of the Federal Reserve in May, as uncertainty continues to surround the future of current Chair Jerome Powell.
According to White House economic adviser Kevin Hassett, there is “strong confidence” that Warsh will assume the top position at the U.S. central bank next month, adding that a confirmation hearing is expected to begin as early as next week.
Hassett also suggested that Powell is likely to step down from the fed once a successor is formally confirmed, although Powell has previously indicated he intends to remain at least until ongoing legal proceedings are resolved.
The transition comes amid mixed signals regarding Powell’s future role. In March, Powell stated that he would not leave the Federal Reserve while an investigation led by U.S. authorities remains ongoing, raising questions over the timing of any leadership change.
A recent court ruling upheld a temporary halt on subpoenas related to the investigation, a development that could influence the broader legal process and, by extension, the timing of leadership succession.
Warsh’s expected appointment comes amid continued political pressure from U.S. President Donald Trump, who has repeatedly called for lower interest rates to support economic growth and financial markets during his tenure.
Warsh, who previously served on the Federal Reserve Board of Governors, has been seen as aligned with more growth-oriented monetary policy views, making his potential return a closely watched development in financial markets.
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