Trump nominates "Kevin Warsh" to lead the Federal Reserve, replacing Jerome Powell amid political pressure and debates over monetary policy independence.
On 30 Jan 2026 GMT+7, U.S. President Donald Trump nominated Kevin Warsh, a former Federal Reserve governor, to serve as the new Federal Reserve Chair after Jerome Powell's term ends in May.
The nomination of Warsh follows Trump's continued pressure on Powell to cut interest rates faster than the Fed has acted. The U.S. leader posted on social media that Warsh could become "one of the greatest Fed Chairs." Warsh, 55, is viewed as politically aligned with Trump and has supported rate cuts, though he is not expected to pursue as aggressive easing as some other candidates.
However, this nomination is expected to face intense Senate scrutiny, especially amid criticism that political pressure could undermine the Fed's independence.
Previously, the U.S. Justice Department opened a criminal investigation related to Powell, further increasing political pressure on the Federal Reserve. Analysts and Powell himself see Trump's moves as attempts to push the Fed to align monetary policy with the government's economic goals.
Source: CNN