Image: from Trend Scalez X@TrendScalezz
By Open Chronicle News Desk
WASHINGTON, D.C. — President Donald Trump officially nominated former Federal Reserve Governor Kevin Warsh on Friday to serve as the next Chairman of the Federal Reserve. The high-stakes appointment aims to replace current Chair Jerome Powell, whose term is set to expire in May, marking a potential “regime change” for the world’s most influential financial institution.
In a characteristic announcement on Truth Social, President Trump lauded Warsh’s experience and temperament. “I have 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,” Trump wrote. He further described Warsh as “central casting,” a favorite term the President uses for advisors who look and act the part of high-ranking officials.
🔔 Trump has made it official — Kevin Warsh is his choice to lead the Federal Reserve.
“On top of everything else, he is ‘central casting,’ and he will never let you down. Congratulations, Kevin!” pic.twitter.com/dcPC9vvBxt
— Digital Daisy (@DigitalDaisyX) January 30, 2026
Warsh, 55, is a familiar face in the halls of the central bank. Appointed at age 35 in 2006, he remains the youngest person to ever serve on the Fed’s Board of Governors. During the 2008 financial crisis, he acted as a critical bridge between the Fed and Wall Street. While he was historically known as a “hawk”—favoring higher interest rates to curb inflation, Warsh has more recently aligned with Trump’s calls for lower rates and deregulation.
The nomination comes at a time of unprecedented friction between the White House and the Federal Reserve. President Trump has frequently attacked Jerome Powell for being “too slow” to cut interest rates, and the Department of Justice has recently launched an investigation into the Fed regarding renovation costs—a move Powell and several lawmakers have decried as political intimidation.
Market reaction was swift following the announcement. Gold prices saw a sharp decline, dropping more than 5%, while the US dollar strengthened. Investors appear to view Warsh as a more “orthodox” pick compared to other potential candidates, though concerns remain regarding how he will balance the President’s demands for lower rates with the Fed’s traditional mandate of political independence.
The appointment now moves to the Senate Banking Committee. While Republicans hold the majority, the confirmation process is expected to be rigorous, with both sides of the aisle questioning Warsh on his commitment to shielding the bank from day-to-day political pressure.