Business

Trump taps Kevin Warsh, a Fed insider and outsider, to lead central bank

January 30, 2026

President Donald Trump has nominated Kevin Warsh, a former Federal Reserve governor, to lead the central bank, replacing Jerome Powell when his term ends in May. This decision comes as the dollar has been falling and gold prices have surged, prompting Trump to take action to stabilize the markets.

Trump taps Kevin Warsh, a Fed insider and outsider, to lead central bank

Credit: Ann Saphir/Reuters/File

Key Highlights

Kevin Warsh is President Trump's nominee for Federal Reserve Chair.
Warsh previously served as a governor at the Federal Reserve.
Jerome Powell's term as chair ends in May.
The nomination is intended to calm falling dollar and rising gold prices.
Market reactions included a rebound in the dollar and a drop in gold prices.

Banking and Financial Institutions United States Politics and Government Appointments and Executive Changes United States Economy Interest Rates Powell, Jerome H Trump, Donald J Federal Reserve System

Sources

This quick summary is automatically generated using AI based on reports from multiple news sources. The content has not been reviewed or verified by humans. For complete details, accuracy, and context, please refer to the original published articles.

Trump taps Kevin Warsh, a Fed insider and outsider, to lead central bank

Key Highlights

Sources

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