The Trump administration is set to nominate Kevin Warsh, a former Federal Reserve governor, as the next Fed chair, Bloomberg reported Thursday, citing people familiar with the situation.
Warsh, 55, visited the White House on Thursday. His selection aligns with President Donald Trump’s push for lower interest rates ahead of current chair Jerome Powell’s term ending in May.
The nomination faces potential obstacles. Senator Thom Tillis has vowed to block any Fed nominee until a Justice Department probe into the central bank’s headquarters renovation is resolved.
Warsh served as Fed governor from 2006 to 2011, becoming the youngest appointee at age 35. During the 2008 financial crisis, he acted as the Fed’s liaison to Wall Street and represented the US at the G20.
Before joining the Fed, Warsh worked as a Morgan Stanley vice president from 1995 to 2002, then served as an economic policy aide in the Bush White House.
In April 2025, Warsh addressed the Group of Thirty and the IMF on “Central Banking at a Crossroads,” advocating for transparency reforms at the Fed.
Treasury Secretary Scott Bessent listed Warsh among candidates to succeed Powell in October 2025. His hawkish stance on monetary policy could create tension with Trump’s preference for lower interest rates.