Kevin Warsh Nominated to Lead the Federal Reserve

President Donald Trump has nominated Kevin Warsh, a former Governor of the Federal Reserve, to be the next chair of the US central bank. If confirmed by the Senate, Warsh would succeed Jerome Powell, whose term ends in May. The nomination comes amid scrutiny of the Federal Reserve’s independence and a criminal investigation involving current Chairman Powell.

Who is Kevin Warsh?

Kevin Maxwell Warsh, born April 13, 1970, is an American financier and bank executive. He served as a member of the Federal Reserve Board of Governors from February 24, 2006, to March 31, 2011 [1]. During the 2008 financial crisis, Warsh acted as the central bank’s primary liaison to Wall Street and represented the Federal Reserve at the Group of Twenty (G20) [1].

Prior to his role at the Federal Reserve, Warsh served as Special Assistant to the President for Economic Policy and Executive Secretary of the White House National Economic Council under President George W. Bush [1]. Currently, he is the Shepard Family Distinguished Visiting Fellow in Economics at the Hoover Institution of Stanford University [1].

Trump’s Nomination and Senate Confirmation

President Trump officially nominated Warsh on Wednesday, March 4, 2026 [3], more than a month after first publicly announcing his intention. The nomination was formally transmitted to the Senate [3].

However, the confirmation process may face obstacles. Senator Thom Tillis has indicated he will block the nomination until a federal criminal investigation of Jerome Powell is dropped [3]. This investigation, involving the $2.5 billion renovation of the Federal Reserve’s headquarters, has prompted Powell to state he is under investigation and faces the “threat of criminal charges” [3].

Previous Consideration and Criticisms

Warsh was previously considered for the position of Fed chair during Trump’s first term [4]. He has been a vocal critic of the Federal Reserve and is expected to favor lower interest rates [4]. Trump described Warsh as someone who “will go down as one of the GREAT Fed Chairmen, maybe the best” [4].

Recent Developments

The White House formally nominated Warsh on March 4, 2026 [2].