Trump names Kevin Warsh as next Fed chief

US President Donald Trump announced that he is nominating Kevin Warsh as the Chairman of the Board of Governors of the Federal Reserve System. Trump shared the announcement on his social media platform, Truth Social.

Current roles of Kevin Warsh

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According to Trump, Kevin Warsh currently serves as the Shepard Family Distinguished Visiting Fellow in Economics at the Hoover Institution and is a Lecturer at the Stanford Graduate School of Business. He is also a partner at Duquesne Family Office LLC, alongside Stanley Druckenmiller.

Educational background of Kevin Warsh

Warsh received his A.B. degree from Stanford University and a J.D. degree from Harvard Law School. Trump noted that Warsh has conducted extensive research in the fields of economics and finance.

Kevin Warsh previously served as a member of the Board of Governors of the Federal Reserve System from 2006 to 2011. He became the youngest Fed Governor at the age of 35. During his tenure, he represented the Federal Reserve at the Group of Twenty (G-20) and served as the Board’s emissary to emerging and advanced economies in Asia.

Administrative role at the Fed

Trump said Warsh also served as Administrative Governor, where he managed and oversaw the Board’s operations, personnel, and financial performance.

Warsh issued an independent report to the Bank of England proposing reforms in the conduct of monetary policy in the United Kingdom. Trump said the UK Parliament adopted the recommendations of the report.

White House and private sector experience of Kevin Warsh

Before joining the Federal Reserve, Warsh served as Special Assistant to the President for Economic Policy and Executive Secretary of the White House National Economic Council from 2002 to 2006. Earlier in his career, he worked in the mergers and acquisitions department at Morgan Stanley & Co. in New York, serving as Vice President and Executive Director.

In his post, Trump said he has known Warsh for a long time and expressed confidence that he would be one of the great Fed Chairmen. He also praised Warsh’s background and leadership qualities.