Kevin Warsh Nominated for Federal Reserve Chairman by President Trump

Trump Nominates Kevin Warsh as New Chairman of the Federal Reserve

As confirmed by ‘The Big Money Show’ panel, President Donald Trump has put forth Kevin Warsh as his choice to serve as the next chairman of the Federal Reserve, an announcement that has stirred up discussions concerning future interest rates and monetary policy.

Who is Kevin Warsh?

Kevin Warsh, an individual with a notable history within the Federal Reserve, was previously on the Fed’s Board of Governors from 2006 to 2011. Warsh was previously under consideration for the chairman role in 2017, when Trump chose Jerome Powell for the position. Powell, who was reappointed for a second term in 2022, is expected to end his term in May.

Before his first appointment to the Federal Reserve, which marked him as the youngest Fed governor in history, Warsh had worked within the private sector at JPMorgan as well as in President George W. Bush’s administration. He has subsequently worked at the Hoover Institution, Stanford’s Graduate School of Business, the board of UPS, and on a panel of economic advisers to the Congressional Budget Office.

Responses to Warsh’s Nomination

Following the announcement of his nomination, various members of the business community, alongside trade groups representing American companies, issued statements of congratulations for Warsh and commented on his suitability for the role.

Find out more about Kevin Warsh’s background and career in Who is Kevin Warsh, Trump’s Pick to Succeed Jerome Powell as Fed Chair?

Bank of America CEO, Brian Moynihan Supports Warsh’s Nomination

“I have known Kevin for many years in his many capacities serving our country and his background and experience are suited to the role. I wish him well through the process ahead,” said Brian Moynihan, CEO of Bank of America, about Warsh’s nomination.

UPS CEO, Carol Tomé Commends Warsh’s Nomination

Carol Tomé, CEO of UPS, also expressed her support, stating, “Since joining the UPS Board more than 13 years ago, Kevin Warsh has served as a trusted advisor and colleague. His deep financial markets knowledge, global economic insight, crisis management expertise, and sound judgment have made him an invaluable member of our Board.”

U.S. Chamber of Commerce CEO, Suzanne Clark on Warsh’s Nomination

“Kevin is well known to the business community. We appreciate his years of focus on how we grow the economy and maintain stable prices for America’s families, and look forward to his confirmation process,” states Suzanne Clark, U.S. Chamber of Commerce CEO, about Warsh’s nomination.

Investment Company Institute (IC) CEO, Eric Pan on Warsh’s Nomination

“Warsh’s wealth of experience in monetary policy and financial regulation, along with his deep understanding of the Federal Reserve’s dual mandate, will serve him well in this position. His unique background as a former Federal Reserve Governor, twinned with his experience in global financial markets, means he has a firm foundation from which to step into this leadership role,” says Eric Pan, CEO of Investment Company Institute.

Warsh’s Potential Obstacles

Despite the support for his nomination, Warsh is expected to face unexpected challenges due to ongoing investigations involving Powell. More about this can be found in our article Trump’s Fed Pick Kevin Warsh Faces Unexpected Roadblock Over Ongoing Powell Probe.

Additional Reactions to Warsh’s Nomination

Rob Nichols, CEO of the American Bankers Association, and Rebeca Romero Rainey, CEO of the Independent Community Bankers of America, also expressed their support and congratulations for Warsh’s nomination.

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