Trump officially nominates Kevin Warsh as Fed chair to replace Jerome Powell

Source: MS NOW News

Mar. 4, 2026, 3:19 PM EST


President Donald Trump officially asked the Senate to consider Kevin Warsh, a former Federal Reserve governor, to ‌be the central bank’s next chair.

The formal nomination is the first step in what could be an uphill battle for the president as he sets out to install a rate cut-friendly economist at the helm of the Fed. Warsh would succeed Jerome Powell, whom Trump has repeatedly attacked for declining to cut interest rates.

If confirmed by the Senate, Warsh would begin his four-year term after Powell’s term ends on May 15. If the White House gets its way, he’d also be confirmed for a 14-year term as a member of the board of governors of the Federal Reserve.

That’s the board seat currently held by Fed governor Stephen Miran, another rate-cut advocate whom Trump nominated in September. Miran’s term expired at the end of January, but he can stay on the board until a successor is confirmed.

Read more: https://www.ms.now/news/trump-nominates-kevin-warsh-fed-chair