President Donald Trump has nominated Kevin Warsh to be the new Federal Reserve chairman.<\/p>\n
In a post on Truth Social early Friday morning, Trump said that he has “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.”<\/p>\n
“He will never let you down,” Trump continued.<\/p>\n
Warsh previously served on the Fed’s board of governors from 2006 to 2011. He was a top advisor to then-Fed chairman Ben Bernanke during the 2008 financial crisis, serving as a liaison between the central bank and Wall Street. During that time, he was an inflation “hawk” — skeptical of the Fed’s ultra-low interest rate policy. But in more recent interviews, Warsh has heaped praise on Trump and called for “regime change” at the Fed.<\/p>\n
On Thursday, Trump said that he had “chosen a very good person” while walking the carpet at the Kennedy Center ahead of the premiere of the documentary about first lady Melania Trump.\u00a0<\/p>\n
Trump said his pick to replace current Chairman Jerome Powell is an “outstanding person and a person that won’t be too surprising to people.”<\/p>\n
![\"Ben](\"https:\/\/i.abcnewsfe.com\/a\/8fc786eb-2859-4ee3-a7ef-030c11e4ca4d\/donald-trump-7-gty-gmh-260128_1769618610160_hpMain.jpg?w=375 "\\"Ben")
<\/picture><\/div>\n<\/div>President Donald Trump arrives for an event on “Trump Accounts” on Jan. 28, 2026, in Washington.<\/span><\/span><\/span><\/p>\n Jacquelyn Martin\/AP<\/span><\/p>\n<\/div>\n<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<\/div>\n \u00a0“A lot of people think that this is somebody that could have been there a few years ago,” Trump went on. “It’s going to be somebody that is very respected, somebody that’s known to everybody in the financial world. And I think it’s going to be a very good choice.”<\/p>\n Trump has repeatedly attacked Powell over the past year for his cautious approach to lowering interest rates.\u00a0<\/p>\n Powell’s term as chairman expires in May.\u00a0<\/p>\n Federal Reserve Chair Jerome Powell speaks during a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy, in Washington, January 28, 2026<\/span><\/span><\/span><\/p>\n Jonathan Ernst\/Reuters<\/span><\/p>\n<\/div>\n<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<\/div>\n Earlier this month, in an extraordinary escalation of the months-long attack on the independence of the Federal Reserve, Powell announced that federal prosecutors had launched a criminal investigation<\/a> related to a multi-year renovation of the Fed’s headquarters in Washington, D.C.\u00a0<\/p>\n Earlier this week, at its first meeting since news of the investigation surfaced, the Federal Reserve voted to hold interest rates steady.\u00a0<\/p>\n Trump said that the Fed governors who voted earlier this week to pause interest rates will change their minds once there is a new chair.\u00a0<\/p>\n “If they respect the Fed chairman, they’ll be with us all the way,” Trump said. “They want to see the country be great.”<\/p>\n<\/div>\n![\"chair\"](\"https:\/\/i.abcnewsfe.com\/a\/264b2fc1-5c3a-4d4c-a13a-81d9cae259d7\/jerome-powell-3-rt-gmh-260128_1769629829639_hpMain.jpg?w=375 "\\"chair\\"")
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