Washington —
President Donald Trump said Friday he is nominating Kevin Warsh to be the 17th chair of the Federal Reserve after Jerome Powell’s term ends in May.
“I am pleased to announce that I am nominating Kevin Warsh to be the CHAIRMAN OF THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM, Trump wrote on his social media platform on Friday morning. “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.”
In an Oval Office meeting later Friday, Trump further touted his pick, saying: “I would say that this was the perfect candidate. This was the man that’s most qualified, top student, best schools, everything was perfect, the youngest person ever to serve on the Fed. Got the whole package. Looks don’t mean anything, but he’s got the look, right?”
Warsh is a somewhat conventional candidate for Fed chair: a former Fed governor who was previously under consideration to be Treasury secretary in Trump’s second term and was a candidate for the top job at the Fed during Trump’s first term. Warsh was appointed to the Fed in 2006 at the age of 35, making him the youngest person to have ever served on the Fed’s powerful board.
Warsh, now 55, has recently shifted his stance on monetary policy.
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