President Donald Trump indicated that he would announce his pick for the Fed chair on Friday, after saying that an announcement would come sometime next week. This comes amid an ongoing tussle between Trump and his previous appointee Jerome Powell over lowering interest rates.
“I’m going to be announcing, I think, a really great choice tomorrow,” Trump said during the premier of Melania, the documentary on First Lady Melania Trump.
While Trump's pick is not known yet, Kevin Warsh is believed to be among the frontrunners. CNN's Kaitlan Collins reported that Warsh was seen at the White House on Thursday, a day ahead of the announcement. The names on Trump's shortlist are National Economic Council Director Kevin Hassett, Fed Governor Christopher Waller, former Governor Kevin Warsh and BlackRock Inc. executive Rick Rieder.
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Though Trump has not formally announced his choice he dropped hints as reported by NewsNation's White House correspondent Kellie Meyer. “I'll say they're an outstanding person. And a person that won't be too surprising to people,” Trump said of his choice.
{{/usCountry}}Though Trump has not formally announced his choice he dropped hints as reported by NewsNation's White House correspondent Kellie Meyer. “I'll say they're an outstanding person. And a person that won't be too surprising to people,” Trump said of his choice.
{{/usCountry}}The POTUS added, "A lot of people think that this person could have been there a few years ago. Gonna be somebody that is very respected. Somebody that is known to everybody in the financial world. I think it's going to be a very good choice. I hope so."
Reactions to Kevin Warsh possibly being the Fed chair
While Trump has not formally made the announcement yet, experts have already weighed in on what they feel about Warsh being the next Fed chair.
Economist Joseph Brusuelas wrote on X “My evaluation of Kevin Warsh from his public statements, speeches & time on the Fed a reading of central bank transcripts. The takeaway: his first instinct is hawkish & rarely saw a potential rate hike he didn’t like. Red flag: he got the policy response wrong in the aftermath of the Great Financial Crisis. He truly did not an understand the nature, magnitude & implications of the depression like shock that occurred.”