President Trump is expected to nominate Kevin Warsh as the next Chairman of the Federal Reserve, according to Bloomberg News.
President Trump told reporters at the “Melania” premiere at the Trump Kennedy Center that he will make the announcement on Friday morning.
“I’ll be announcing the Fed Chair tomorrow morning,” President Trump told reporters from the red carpet on Thursday evening.
WATCH:
NEW: President Trump says he’s announcing his fed chair pick “tomorrow morning.” pic.twitter.com/0IqkAVxIcz
— Fox News (@FoxNews) January 30, 2026
The New York Post also reported that Trump plans on nominating Kevin Warsh to replace Jerome Powell:
President Trump plans to announce on Friday that he will name Kevin Warsh, the former Federal Reserve governor, replace Jerome Powell as Federal Reserve chair, The Post has learned.
After meeting on Thursday with Warsh, a former Fed governor and Stanford University professor, Trump later called Warsh and asked him if he would accept the position — and he did, sources tell The Post.
Rick Reider, a top executive at giant money manager BlackRock emerged as a top candidate in recent days. But Reider on Thursday was informed he would not get the appointment, people close to him say.
The other two top candidates — National Economic Council director Kevin Hassett and Fed Gov. Christopher Waller — have recently been given lower odds.
President Trump has repeatedly slammed Fed Chairman Jerome Powell over his monetary policy.
The Fed announced this week that it is freezing interest rates, prompting Trump to call Powell a moron.
“Jerome ‘Too Late’ Powell again refused to cut interest rates, even though he has absolutely no reason to keep them so high,” Trump said on Truth Social.
“We should have a substantially lower rate now that even this moron admits inflation is no longer a problem or threat,” Trump said.
The Federal Reserve cut interest rates by 75 basis points – or 0.75% – in 2025.
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