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President 
Donald Trump has nominated Kevin Warsh to replace Jerome Powell as Chair of the Federal Reserve, America's central banking system.
What's the Scoop?
- New Nominee: President Trump has tapped former Fed governor Kevin Warsh to helm the central bank previously resigned from in 2011. At that time, Warsh protested that the Fed was injecting too much liquidity into the financial system, making his recent nomination a potentially "hawkish" catalyst that could cause the Fed to reign in monetary policy.
- Big Business Ties: Warsh's wife is a billionaire heiress to the Estée Lauder fortune. Her father is Ronald Lauder, who has known President Trump since the two were undergraduate students together at the Wharton School of the University of Pennsylvania.
- Crypto Conscious: Warsh is connected to the crypto industry through personal investments Basis (an algorithmic stablecoin project) and prior advisory work for crypto asset manager Bitwise. Warsh views BTC as a tool that can guide policymaker, rather than a threat to the dollar.
President Donald J. Trump nominates Kevin Warsh as Chairman of the Board of Governors of the Federal Reserve pic.twitter.com/M5FHQJzY2a
— Rapid Response 47 (@RapidResponse47) January 30, 2026
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