Donald Trump expected to nominate Kevin Warsh as US Federal Reserve chair

"Donald Trump is expected to nominate the former Federal Reserve governor Kevin Warsh as its next chair amid an extraordinary attempt by the president to tighten his grip on the US central bank and flout its longstanding independence. Trump told reporters on Thursday that he planned to announce his choice for chair of the Federal Reserve on Friday morning, hinting that a lot of people think that this is somebody"

"Warsh, a New Yorker who was special assistant for economic policy from 2002 to 2006, served as Fed governor between 2006 and 2011, a period that included the response to the global financial crisis, and was its representative to the G20 group of countries. He is now a lecturer at the Stanford Graduate School of Business and has roles at the courier UPS, the Korean e-commerce company Coupang and the Duquesne Family Office, the investment firm of the billionaire Stanley Druckenmiller."

"Being the chair of the Fed is one of the most powerful roles in the US government, with enormous influence over the world's largest economy. Donald Trump appointed Jerome Powell as Fed chair in 2018, but later became infuriated by the central bank's stance on interest rates. Photograph: Kent Nishimura/Reuters If confirmed by the Senate, Warsh would replace Jerome Powell, who Trump first appointed in 2018, but later infuriated the US president by defying his repeated calls for lower interest rates."

Donald Trump intends to nominate Kevin Warsh as chair of the Federal Reserve, signaling an effort to increase presidential influence over the central bank. Warsh previously served as a Fed governor from 2006 to 2011 and as a special assistant for economic policy from 2002 to 2006, including roles during the global financial crisis and as a G20 representative. He now teaches at Stanford and holds corporate and investment roles. Betting markets and reports surged on the nomination, and Warsh would replace Jerome Powell, who had clashed with the president over interest-rate policy.

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