- Home
- Politics
President Donald Trump announced Kevin Warsh as his selection for the next chair of the Federal Reserve, who will replace Jerome Powell.
By
David Dittman
published
30 January 2026
Contributions from
Alexandra Svokos
in News
When you purchase through links on our site, we may earn an affiliate commission. Here’s how it works.
- Copy link
- X
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
Contact me with news and offers from other Future brands Receive email from us on behalf of our trusted partners or sponsors By submitting your information you agree to the Terms & Conditions and Privacy Policy and are aged 16 or over.You are now subscribed
Your newsletter sign-up was successful
Want to add more newsletters?
Delivered daily
Kiplinger Today
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more delivered daily. Smart money moves start here.
Signup +
Sent five days a week
Kiplinger A Step Ahead
Get practical help to make better financial decisions in your everyday life, from spending to savings on top deals.
Signup +
Delivered daily
Kiplinger Closing Bell
Get today's biggest financial and investing headlines delivered to your inbox every day the U.S. stock market is open.
Signup +
Sent twice a week
Kiplinger Adviser Intel
Financial pros across the country share best practices and fresh tactics to preserve and grow your wealth.
Signup +
Delivered weekly
Kiplinger Tax Tips
Trim your federal and state tax bills with practical tax-planning and tax-cutting strategies.
Signup +
Sent twice a week
Kiplinger Retirement Tips
Your twice-a-week guide to planning and enjoying a financially secure and richly rewarding retirement
Signup +
Sent bimonthly.
Kiplinger Adviser Angle
Insights for advisers, wealth managers and other financial professionals.
Signup +
Sent twice a week
Kiplinger Investing Weekly
Your twice-a-week roundup of promising stocks, funds, companies and industries you should consider, ones you should avoid, and why.
Signup +
Sent weekly for six weeks
Kiplinger Invest for Retirement
Your step-by-step six-part series on how to invest for retirement, from devising a successful strategy to exactly which investments to choose.
Signup + An account already exists for this email address, please log in. Subscribe to our newsletter
After months of speculation — and years of criticizing his last pick — President Donald Trump announced his selection for the next chair of the Federal Reserve.
The president announced on Friday, January 30, that Kevin Warsh will be the next Fed chair. If approved by the Senate, he will take over when Jerome Powell's term ends in May 2026. Trump had been reviewing several candidates for some time now.
"I am pleased to announce that I am nominating Kevin Warsh to be the CHAIRMAN OF THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM," Trump wrote on Truth Social. "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 Chairmen, maybe the best. On top of everything else, he is 'central casting,' and he will never let you down."
From just $107.88 $24.99 for Kiplinger Personal Finance
Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues
CLICK FOR FREE ISSUE
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Sign upIn December, the president said his nomination will be "someone who believes in lower interest rates by a lot."
Who is Kevin Warsh, and how could he impact your life and your money?
What to know about Warsh
Warsh was Fed Chair Ben Bernanke's right-hand man during the 2008-09 global financial crisis and was his primary liaison to Wall Street, which earned him credibility he still retains.
Markets see Warsh as a source of stability should Trump continue to pressure the central bank. He served on the Federal Reserve Board from February 2006 through March 2011.
He was special assistant to the president for economic policy and executive secretary of the White House National Economic Council from 2002 through 2006, during the George W. Bush administration. From 1995 to 2002, Warsh worked for Morgan Stanley.
He's currently a visiting fellow in economics at Stanford University's Hoover Institution, a lecturer at the Stanford Graduate School of Business and a member of the Panel of Economic Advisers of the Congressional Budget Office.
Warsh is widely viewed as a "hawk" on monetary policy who generally favors higher interest rates rather than the risk of inflation.
At the same time, Warsh, who was said to be a candidate for Treasury secretary before Trump picked Scott Bessent, was on the short list because he has a great relationship with the president.
Warsh said in mid-2025 that "the independent operations in the conduct of monetary policy is essential," adding "that doesn't mean the Fed is independent in everything else it does."
Though he consistently took the hawkish line on inflation during his time inside the central bank, Warsh has more recently advocated for lower interest rates.
Powell's legacy
Current Fed Chair Powell's term comes to an end on May 15, 2026. He's served in this role since he was appointed by Trump in 2018 as the 16th chair of the Federal Reserve.
Powell navigated the economy through the economic trip-up of the COVID-19 pandemic and the inflationary period that followed.
Asked about his legacy in the December Fed meeting, Powell said: "My thought is that I really want to turn this job over to whoever replaces me with the economy in really good shape. That's what I want to do. I want inflation to be under control, coming back down to 2%, and I want the labor market to be strong. That's what I want. And all of my efforts are to get to that place. They have been all along. But, ultimately, that's what I want."
In the January Fed meeting, Powell offered his successor some words of advice. In addition to staying out of politics, he reminded the next Fed chair that their accountability is to Congress and maintaining this accountability will keep them legitimate to the American people.He also said that the Fed staff is excellent.
Related Content
- When Is the Next Fed Meeting?
- What to Look Out for in Economic Data This Week
- What's Next for the Fed — as an Institution?
- How Worried Should Investors Be About a Jerome Powell Investigation?
David DittmanInvesting EditorDavid Dittman is the former managing editor and chief investment strategist of Utility Forecaster, which was named one of "10 investment newsletters to read besides Buffett's" in 2015. A graduate of the University of California, San Diego, and the Villanova University School of Law, and a former stockbroker, David has been working in financial media for more than 20 years.
With contributions from Latest-
Should You Do Your Own Taxes This Year or Hire a Pro?
Taxes Doing your own taxes isn’t easy, and hiring a tax pro isn’t cheap. Here’s a guide to help you figure out whether to tackle the job on your own or hire a professional.
-
Trump $10B IRS Lawsuit Hits an Already Chaotic 2026 Tax Season
Tax Law A new Trump lawsuit and warnings from a tax-industry watchdog point to an IRS under strain, just as millions of taxpayers begin filing their 2025 returns.
-
Quiz: Are You Ready for the 2026 401(k) Catch-Up Shakeup?
Quiz If you are 50 or older and a high earner, these new catch-up rules fundamentally change how your "extra" retirement savings are taxed and reported.
-
Trump $10B IRS Lawsuit Hits an Already Chaotic 2026 Tax Season
Tax Law A new Trump lawsuit and warnings from a tax-industry watchdog point to an IRS under strain, just as millions of taxpayers begin filing their 2025 returns.
-
I Met With 100-Plus Advisers to Develop This Road Map for Adopting AI
For financial advisers eager to embrace AI but unsure where to start, this road map will help you integrate the right tools and safeguards into your work.
-
The Referral Revolution: How to Grow Your Business With Trust
You can attract ideal clients by focusing on value and leveraging your current relationships to create a referral-based practice.
-
This Is How You Can Land a Job You'll Love
"Work How You Are Wired" leads job seekers on a journey of self-discovery that could help them snag the job of their dreams.
-
Fed Vibes Lift Stocks, Dow Up 515 Points: Stock Market Today
Incoming economic data, including the January jobs report, has been delayed again by another federal government shutdown.
-
65 or Older? Cut Your Tax Bill Before the Clock Runs Out
Thanks to the OBBBA, you may be able to trim your tax bill by as much as $14,000. But you'll need to act soon, as not all of the provisions are permanent.
-
The Key to a Successful Transition When Selling Your Business: Start the Process Sooner Than You Think You Need To
Way before selling your business, you can align tax strategy, estate planning, family priorities and investment decisions to create flexibility.
-
I'm a Financial Adviser: This Is the $300,000 Social Security Decision Many People Get Wrong
Deciding when to claim Social Security is a complex, high-stakes decision that shouldn't be based on fear or simple break-even math.
