Trump picks former Federal Reserve official Kevin Warsh to chair US central bank
US President Donald Trump on Friday named former Federal Reserve official Kevin Warsh to be the next head of the US central bank, after teasing his choice for weeks, with Jerome Powell due to step down from the top job in May. The 55-year-old Warsh, who served as a governor of the Federal Reserve Board…
The 55-year-old Warsh, who served as a governor of the Federal Reserve Board from 2006 to 2011, appeared to align with Trump’s bid to control the monetary policymaking institution as economic issues – from tariffs to affordability – dominate the policy agenda ahead of the November midterm elections.
“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 social media. “On top of everything else, he is ‘central casting’, and he will never let you down.”
But Warsh has a reputation earlier in his career for favouring tighter monetary policy, which he has tried to shed in recent months through opinion articles and media appearances.
As financial markets have signalled concern that Trump’s pick might be too accommodating, the president has swallowed his misgivings and chosen someone like Warsh, who is seen as acceptable to Wall Street and Congress.
The nomination remains subject to US Senate confirmation.
US Fed chief threatened with criminal indictment by Trump administration
US Fed chief threatened with criminal indictment by Trump administration
