Trump Nominates Former Fed Governor Warsh as Next Central Bank Chief

By Sofiat Adenekan-Abdul

US President Donald Trump has announced that he will nominate Kevin Warsh, a former Federal Reserve governor, to lead the US central bank.

The move follows months of speculation over who would succeed current Federal Reserve Chair Jerome Powell, whose term ends in May.

Trump has repeatedly criticised Powell for failing to cut interest rates quickly enough.

In a post on his Truth Social platform, Trump praised Warsh, saying he had “no doubt” the former Fed official would become “one of the great Fed chairmen”.

“On top of everything else, he is ‘central casting,’ and he will never let you down,” the president wrote.

Warsh, 55 years , previously served as a Federal Reserve governor from 2006 to 2011, making him the youngest person to hold the role at the time. He was also considered for the top job during Mr Trump’s first term in office, before the president ultimately selected Powell.

Trump later expressed regret over that choice, becoming increasingly vocal in his criticism of the Fed’s interest rate policy.

It remains unclear whether Powell will step down entirely from the Federal Reserve’s powerful board of governors once his term as chair concludes.