He also nominated Kevin Warsh, of Florida, to be a Member of the Board of Governors of the Federal Reserve System for a term of fourteen years from February 1, 2026.
Nominations has been sent to Senate.
Warsh, if confirmed by the Senate, would replace Fed Chairman Jerome Powell whose term ends May 15
The next procedural step is a public hearing before the Senate Banking Committee, where lawmakers will question the nominee on economic policy, regulatory priorities, and the future direction of the Federal Reserve.
Following the hearing, the committee will vote on whether to advance the nomination to the full Senate for confirmation.
In January, Powell disclosed that the US Department of Justice served the Federal Reserve with grand jury subpoenas, threatening a criminal indictment related to its Chair Jerome H. Powell testimony before the Senate Banking Committee last June. He had said it was part of the Trump administration’s “threats and ongoing pressure” on the Fed to cut rates.
Kevin M. Warsh was sworn in as a member of the Board of Governors of the Federal Reserve System on February 24, 2006. He left the Board on March 31, 2011. Then President Bush nominated Warsh to serve on the Board of Governors in 2006.
Warsh was born in Albany, New York. He studied public policy, with an emphasis on economics and statistics at Stanford University, where he received a bachelor’s degree with honors in 1992. Warsh went on to Harvard Law School where he focused his studies on the intersection between law, economics, and regulatory policy and received a law degree in 1995.
