Trump expressed confidence that Warsh will become "one of the GREAT Fed Chairs," possibly even the best. He emphasized that Warsh is the "ideal candidate" and will not let his supporters down.
Now Warsh's nomination must be approved by the Senate. If the decision is positive, he will take the place of Jerome Powell, whose term expires in May 2026. Trump has repeatedly criticized Powell for his reluctance to lower the key interest rate.
In early January 2026, the prosecutor's office launched a criminal investigation against Powell related to expenses for the renovation of the Fed building. Powell claims that this investigation is a result of disagreements with the Trump administration over interest rates.
According to CNN, Warsh is a "fairly typical" candidate for the position of Fed Chair. At 55, he has already worked on the Board of Governors of the Fed from 2006 to 2011 and served as an economist in the White House during George W. Bush's presidency. He is currently a visiting fellow at the Hoover Institution at Stanford.
