Trump Nominates Kevin Warsh for Fed Chair, Jerome Powell's Future Uncertain

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Trump Nominates Kevin Warsh as Fed Chair; Powell's Future Uncertain Amid Probe

FILE PHOTO: Kevin Warsh, Fellow in Economics at the Hoover Institution and lecturer at the Stanford Graduate School of Business, speaks during the Sohn Investment Conference in New York City, U.S., May 8, 2017. REUTERS/Brendan McDermid//File Photo

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CNBC TV18•04-03-2026, 23:31

Trump Nominates Kevin Warsh as Fed Chair; Powell's Future Uncertain Amid Probe

•President Donald Trump formally nominated former Federal Reserve governor Kevin Warsh as the next Fed chair, replacing Jerome Powell.
•The nomination was transmitted to the Senate, where Warsh would serve a four-year term if confirmed.
•Republican Senator Thom Tillis threatens to block Warsh's confirmation unless a federal criminal investigation into Powell is dropped.
•Powell is under investigation by the US Attorney’s Office regarding a $2.5 billion Fed headquarters renovation and his testimony.
•Powell suggests the probe is linked to the Fed's refusal to comply with Trump's demands for interest rate cuts, highlighting White House-Fed tensions.

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