(Roger W. Ferguson Jr. – Council on Foreign Relations) President Donald Trump has nominated Kevin Warsh, a former Federal Reserve governor, to serve as the next chair of the Federal Reserve once Jerome Powell’s term as chair ends in May 2026. After years of railing against what he views as misguided monetary policy, Trump aims to resolve his issues with the central bank by installing an ally in arguably the most influential economic post in the United States. Yet if the president expects a dramatic transformation at the Fed that will lead to significant interest rate cuts, he is likely to be disappointed. Financial markets and economic realities will impose strict limits on the next chair.
Why Kevin Warsh Won’t Revolutionize the Federal Reserve | Council on Foreign Relations
