Instant Reaction: Trump Nominates Warsh for Fed Chair
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 30 January 2026
⏱️ 12 minutes
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Summary
Breaking news from the White House.
President Donald Trump said he intends to nominate Kevin Warsh to be the next chair of the Federal Reserve, according to a post on his Truth Social platform.
“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 top of everything else, he is ‘central casting,’ and he will never let you down.”
Warsh, who served on the US central bank’s Board of Governors from 2006 to 2011 and has previously advised Trump on economic policy, would succeed Jerome Powell when his term at the helm ends in May. It marks a comeback for Warsh, 55, whom the president passed over for the top job in 2017 when he selected Powell.
If confirmed by the Senate, the former Fed governor will take charge of US monetary policy at a time when many economists and investors see its traditional insulation from elected officials as being under threat from the White House. Warsh aligned himself with the president in 2025 by arguing publicly for lower interest rates, going against his longstanding reputation as an inflation hawk.
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| 0:51.6 | Instant reaction and analysis from our 3,000 journalists and analysts around the world. |
| 0:57.5 | Breaking news now official, a red headline crossing the Bloomberg terminal as President Trump has announced |
| 1:03.7 | via his truth social account that he is nominating former Fed Governor Kevin Warsh to succeed Jay Powell as chairman of the Federal Reserve |
| 1:14.2 | when Chairman Powell's term expires in May. And we are joined by Bloomberg International |
| 1:19.4 | Economics and Policy Correspondent, Michael McKee. Mike, good morning. This was an expected announcement. |
| 1:26.1 | Our reporting was that the president had settled on Kevin Warsh. |
| 1:29.9 | But of course, this was a figure that the president had passed over the last time around when he nominated Chairman Powell. |
| 1:37.5 | Yes, but Warsh has stayed in close contact with the president ever since. |
| 1:41.9 | And, of course, his family, not him as much, but his family |
| 1:46.1 | has been big donators to the Republican Party. So Warsh and the president have a relationship. |
| 1:52.7 | The biggest issue has been whether Warsh would be too hawkish, given that the president wants |
| 1:58.0 | extremely low interest rates. Warsh has made some comments recently to the effect that AI and the massive capital spend we've |
| 2:04.5 | seen and the deregulation of the Trump administration would mean faster growth with lower |
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