Kevin Warsh Chosen as Fed Chair by Trump

President Donald Trump on Friday nominated Kevin Warsh to succeed Jerome Powell as Federal Reserve chair, ending a five-month selection process marked by unprecedented political pressure on the U.S. central bank. Since Powell’s 2018 confirmation, Trump repeatedly criticized the Fed, demanding aggressive interest rate cuts and scrutinizing its $1 billion headquarters renovation. Warsh, 55, a former Fed governor, brings credibility and Wall Street respect, though his past comments calling for “regime change” at the Fed suggest a potentially contentious start. The nomination arrives as inflation remains above the Fed’s 2% target, government borrowing rises, and Powell faces a Justice Department subpoena. Republican opposition could delay confirmation, while markets expect only two more rate cuts this year. Powell retains two years on his governor term, raising questions about Fed independence and the central bank’s future direction under Warsh.