BREAKING: Trump nominates Kevin Warsh to succeed Jerome Powell as Federal Reserve chair pic.twitter.com/LQwosgZDut
— Fox News (@FoxNews) January 30, 2026
President Donald Trump on Friday named Kevin Warsh to succeed Jerome Powell as Federal Reserve chair, ending a five-month odyssey that has seen unprecedented turmoil around the central bank.
The decision culminates a process that officially began last summer but started much earlier than that, with Trump launching a fusillade of criticism against the Powell-led Fed almost since Powell took the job in 2018.
Trump announced the nomination in a post on social media Friday morning.
“I have known Kevin for a long period of time, and have no doubt that he will go down as one of the GREAT Fed Chairmen, maybe the best,” Trump wrote.
“On top of everything else, he is ‘central casting,’ and he will never let you down,” the president said.
Trump did not mention Powell in the announcement. But Warsh’s Senate confirmation process will likely be made much more difficult as a result of the pressure campaign Trump has waged against Powell and the bank to drastically lower interest rates.
BREAKING: President Donald Trump said he intends to nominate Kevin Warsh to be the next chair of the Federal Reserve.
— Bloomberg (@business) January 30, 2026
It marks a comeback for Warsh, who the president passed over for the US central bank's top job in 2017 when he selected Jerome Powell. Read more:… pic.twitter.com/tXH29LEAAw