Best Platforms
Live Odds
Trump nominates Kevin Warsh as next Fed chair - as it happened
The choice
Trump’s decision to nominate Warsh settled the open question of who would replace Jerome Powell, at least as the White House’s choice. Reuters reported that Trump announced the pick after meeting Warsh at the White House, and other outlets said the selection was expected after a short list that also included Kevin Hassett, Christopher Waller and Rick Rieder.
Why it matters
The nomination matters because the Fed chair plays a central role in setting the tone for U.S. monetary policy and market expectations. Warsh is widely seen as more hawkish than some of the other names floated, but he has also been viewed as someone more open to lower rates than Powell, which is why markets reacted quickly to the news.
What comes next
The immediate next step is Senate confirmation, where scrutiny of Warsh’s record and independence could become the focus. Reuters noted that the pick could face political hurdles, so the real story now is less about the nomination itself and more about whether the administration can secure final approval.