Reports say President Trump will nominate Kevin Warsh as the next chair of the Federal Reserve. Bloomberg first reported the news. Other outlets have similar accounts.
The announcement was teased on the red carpet at the premiere of “Melania.” Mr. Trump told reporters, “I’ll be announcing the Fed Chair tomorrow morning,” while speaking to the press.
WATCH:
NEW: President Trump says he's announcing his fed chair pick "tomorrow morning." pic.twitter.com/0IqkAVxIcz
— Fox News (@FoxNews) January 30, 2026
Warsh is a familiar name in Washington. He served as a Federal Reserve governor and later taught at Stanford. He also has experience in finance and policy circles. People close to the process say Trump spoke with Warsh recently and that Warsh has agreed to be considered.
Other candidates were in the conversation. Rick Reider, an executive at BlackRock, was reportedly a top contender. National Economic Council director Kevin Hassett and Fed governor Christopher Waller were also discussed. But sources indicate Warsh moved ahead of those names in the final stretch.
The move comes after a tense stretch between Mr. Trump and current Fed chair Jerome Powell. The Fed recently paused on interest rate cuts. The president criticized Powell sharply on social media. He wrote, “Jerome ‘Too Late’ Powell again refused to cut interest rates, even though he has absolutely no reason to keep them so high,” and also said, “We should have a substantially lower rate now that even this moron admits inflation is no longer a problem or threat,” according to posts attributed to him.
Officials say the Fed cut rates by 75 basis points in 2025. The Fed’s next steps and how a new chair would change policy remain open questions. Any nomination would need Senate confirmation. That process could shape markets and policy expectations in the weeks ahead.
This story is evolving. More details are expected after the formal announcement is made.