Trump to Name Warsh Next Federal Reserve Chair
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WASHINGTON: President Donald Trump on Friday said he will nominate former Federal Reserve governor Kevin Warsh to replace Jerome Powell in May. The White House met with Warsh this week and reports by Bloomberg and Reuters said the administration was preparing the nomination; other contenders also included Kevin Hassett, Christopher Waller and Rick Rieder. Markets reacted with stocks falling, Treasury yields rising and the dollar gaining as odds of Warsh's appointment increased. Analysts say the new chair will face dual challenges of curbing inflation and supporting the labour market amid political pressure. Based on 6 articles reviewed and supporting research.
Prepared by Lauren Mitchell and reviewed by editorial team.
Timeline of Events
- Kevin Warsh served as a Federal Reserve governor from 2006 to 2011.
- Over the prior year President Trump publicly pressured the Fed for deeper rate cuts.
- This week the White House hosted Warsh; Bloomberg and Reuters reported plans to nominate him.
- Markets reacted on reports: stocks fell, Treasury yields rose, and the dollar strengthened.
- On Friday Trump announced he would nominate Kevin Warsh as the next Fed chair, pending Senate confirmation.
- Articles Published:
- 6
- Right Leaning:
- 0
- Left Leaning:
- 1
- Neutral:
- 5
- Distribution:
- Left 17%, Center 83%, Right 0%
Investors wagering on lower interest rates and the Trump administration stood to benefit if Warsh’s nomination increased the likelihood of looser policy, based on market moves and media reports linking the pick to rate expectations.
Observers concerned about Federal Reserve independence and critics of White House influence faced potential erosion of institutional separation, as multiple reports flagged risks that the nomination could deepen political pressure on monetary policy.
Coverage of Story:
From Left
Trump says he will announce his Federal Reserve chair nominee on January 30
The New Indian ExpressFrom Center
Trump to Name Warsh Next Federal Reserve Chair
Malay Mail ArcaMax Zawya.com CNA News 4 JaxFrom Right
No right-leaning sources found for this story.
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