President Donald Trump said he will announce his Federal Reserve chair nomination Friday, with multiple outlets reporting former Fed governor Kevin Warsh as his expected pick.
By yourNEWS Media Newsroom
President Donald Trump is expected to nominate former Federal Reserve governor Kevin Warsh as the next chairman of the Federal Reserve, according to reporting by Bloomberg News.
Trump confirmed an announcement was imminent while speaking with reporters Thursday evening at the premiere of “Melania” at the Trump Kennedy Center. “I’ll be announcing the Fed Chair tomorrow morning,” Trump said from the red carpet.
Video of Trump’s remarks was shared publicly following the event, showing the president confirming the timing of the announcement during brief comments to the press, as reported by Fox News.
Additional details about the expected nomination were reported by the New York Post, which cited sources saying Trump plans to name Warsh to replace current Federal Reserve Chairman Jerome Powell. According to the report, Trump met with Warsh on Thursday and later contacted him to ask whether he would accept the position, to which Warsh agreed.
The New York Post reported that Rick Rieder, a senior executive at BlackRock, had emerged as a leading candidate earlier in the week but was informed Thursday that he would not receive the appointment. The report also stated that National Economic Council Director Kevin Hassett and Federal Reserve Governor Christopher Waller were previously considered contenders but had recently been viewed as less likely selections.
Trump has repeatedly criticized Powell’s handling of monetary policy, particularly following the Federal Reserve’s announcement this week that it would hold interest rates steady. In comments posted on Truth Social, Trump criticized Powell for declining to cut rates, saying, “Jerome ‘Too Late’ Powell again refused to cut interest rates, even though he has absolutely no reason to keep them so high.”
Trump added, “We should have a substantially lower rate now that even this moron admits inflation is no longer a problem or threat.”
The Federal Reserve cut interest rates by a total of 75 basis points, or 0.75 percent, during 2025. Powell has continued to face public pressure from Trump as the administration signals a potential shift in the central bank’s leadership and monetary direction.
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