Donald Trump Nominates Kevin Warsh As Next Federal Reserve Chair
US President Donald Trump nominated Kevin Warsh on Friday (Jan 30) to become the next Chair of the Federal Reserve. Warsh presently holds the position of Shepard Family Distinguished Visiting Fellow in Economics at the Hoover Institution and teaches as a lecturer at the Stanford Graduate School of Business. With prior experience as a Federal Reserve Governor between 2006 and 2011, Warsh is viewed as closely aligned with Donald Trump’s monetary policy vision, especially concerning more aggressive interest rate cuts.
“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 Chairmen, maybe the best,” Trump wrote on his Truth Social platform. In his post, Trump presented a detailed portfolio of Warsh’s career as he faced criticism over his choice for the next Fed chief. Concerns have surfaced about the potential politicisation of the Central Bank, with critics worried that Warsh might slant monetary policy toward political preferences rather than strictly data-based decisions.
“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. Kevin currently serves as the Shepard Family Distinguished Visiting Fellow in Economics at the Hoover Institution and Lecturer at the Stanford Graduate School of Business. He is a Partner of Stanley Druckenmiller at Duquesne Family Office LLC. Kevin received his A.B. from Stanford University and J.D. from Harvard Law School. He has conducted extensive research in the field of Economics and Finance,” Trump wrote.
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The US President further highlighted Warsh’s past work with the Bank of England, noting: “Kevin issued an Independent Report to the Bank of England proposing reforms in the conduct of Monetary Policy in the United Kingdom. Parliament adopted the Report’s recommendations. Kevin Warsh became the youngest Fed Governor ever, at 35, and served as a Member of the Board of Governors of the Federal Reserve System from 2006 until 2011, 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.”
Warsh is no stranger to Washington’s power corridors, having previously served as Special Assistant to the President for Economic Policy and Executive Secretary of the White House National Economic Council. His private sector experience includes a tenure with Morgan Stanley & Co. in New York, where he served as Vice President and Executive Director.