Trump Picks New Fed Chair to Cool Inflation

President Donald Trump will officially install Kevin Warsh as the next chair of the Federal Reserve on Friday at the White House.

• Age: 56
• Approval: Congress voted on May 13, with a near party‑line split.
• Replacement: Jerome Powell will remain on the board until 2028 but step down from the top job.

Why Warsh?

Trump chose Warsh because he seeks a leader who will:

• Keep interest rates low
• Shrink the Fed’s balance sheet

Warsh has repeatedly emphasized lowering borrowing costs for businesses and households.

Policy Outlook

The new chair will take over as Fed officials weigh raising rates to curb inflation that has risen following the U.S. war in Iran.

• A recent meeting saw most policymakers say tightening policy might be needed if inflation stays above the 2 percent goal.

Tenure

• Chair term: Four years
• Board term: Fourteen years

Warsh’s leadership will shape U.S. monetary policy for years to come.