Kevin Warsh Tapped to Succeed Jerome Powell as Chairman of the Federal Reserve

President Donald Trump said he would nominate Kevin Warsh as the next chair of the Federal Reserve, putting a former Fed governor and Wall Street veteran at the helm of an institution the president has repeatedly attacked for not cutting interest rates more aggressively to spur growth.

"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 chairman, maybe the best," Trump said on his social media platform early Friday. "On top of everything else, he is 'central casting,' and he will never let you down."*

Warsh, 55, was passed over in 2017, when Trump instead elevated Jerome Powell. Previously a Fed governor from 2006 to 2011, he was the youngest in the institution’s history at 35 and served as a key Wall Street liaison during the financial crisis. He also served as an economic adviser to President George W. Bush. He is a partner at the family office of investor Stanley Druckenmiller.

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*Grammatical errors related to capitalization and punctuation were not rectified by OSAP.