Trump has tapped a new Federal Reserve chair. Has he finally found his yes-man?

Donald Trump has nominated Kevin Warsh to be the next Federal Reserve chair, replacing Jerome Powell when his term expires in May. This comes after Trump publicly criticized Powell for not lowering interest rates and perceived disloyalty. Warsh, a former Fed governor, is considered a "hawkish" candidate, favoring policies that prioritize controlling inflation, even if it risks increased unemployment. Trump expressed confidence that Warsh would be a loyal and effective leader of the central bank, contrasting sharply with his current view of Powell. The announcement was met with stability in global markets and positive reactions from some within the central banking community. The nomination signals Trump's desire for a Fed chair more aligned with his economic policies.

Kevin Warsh, a former Federal Reserve governor, is reportedly President Trump's pick to replace Jerome Powell as Fed chair. Trump believes Warsh can deliver the economic growth he promised. Warsh, 55, has degrees from Stanford and Harvard and served as a Fed governor from 2006 to 2011. He advised Ben Bernanke during the 2008 financial crisis. However, Warsh has faced criticism for potentially underestimating the severity of the Great Recession and favoring higher interest rates during that period. Trump previously considered Warsh for the Fed chair in 2017 before selecting Powell, whom he now regrets appointing.

Kevin Warsh has been nominated by Donald Trump to be the new head of the Federal Reserve. Warsh, who previously served as a Fed governor from 2006 to 2011, is seen as a potential replacement for the current chair, Jerome Powell, who has faced criticism from Trump for not cutting interest rates quickly enough. Trump praised Warsh, a 55-year-old economist and fellow at the Hoover Institution, while also noting Warsh's support for lower interest rates. Warsh has been an outspoken critic of the Fed and has close ties to Trump's circle through his marriage to Jane Lauder and his father-in-law, Ronald Lauder. The nomination requires Senate approval, which could face delays due to Republican Senator Thom Tillis' opposition until the legal case against Powell is resolved.

President Trump nominated Kevin Warsh, a former Federal Reserve official, to chair the US central bank, replacing Jerome Powell in May. Warsh, who served as a Fed governor from 2006-2011, was chosen amidst Trump's desire to influence monetary policy, particularly regarding interest rates. While Warsh previously favored tighter monetary policy, he has recently signaled a shift. The selection aims to appease financial markets and Congress, who were concerned about a potentially overly-accommodating nominee. Warsh's nomination is subject to confirmation by the US Senate.

With Jerome Powell's term as Federal Reserve chair ending in May, Donald Trump is expected to announce his replacement on Friday, intensifying speculation. Prediction markets like Polymarket and Kalshi have seen significant betting volume on Trump's potential nominee. Kevin Warsh, a former Fed governor, has emerged as the clear frontrunner, with prediction market probabilities exceeding 90%. Warsh, who previously served as an economic advisor and played a key role during the 2008 financial crisis, has emphasized the Fed's independence and a focus on controlling inflation. His stance contrasts with Trump's preference for looser monetary policy.

President Donald Trump announced he will reveal his nominee for Federal Reserve chair on Friday morning. The decision follows a period of tension between Trump and current Fed Chair Jerome Powell, whose term expires in May. Trump has publicly pressured Powell to aggressively lower interest rates to stimulate economic growth, a stance Powell has resisted due to concerns about inflation. The announcement is anticipated to have significant implications for the Fed's independence from political influence. Treasury Secretary Scott Bessent led the search for the nominee. The president stated that the nominee is well-respected and known in the financial world.