Kevin Warsh has been appointed as the next chair of the Federal Reserve, President Donald Trump announced early Friday morning. This decision, which follows much anticipation, will see Warsh take over from Jerome Powell. In a post on Truth Social, the president highlighted Warsh’s qualifications, notably his five-year tenure as a Member of the Board of Governors at the Federal Reserve from 2006 to 2011. Trump concluded his announcement by praising Warsh as “central casting” and assured that he “will never let you down.”

Jerome Powell’s term is set to conclude on May 15, 2026, with two policy meetings remaining before his departure. His tenure has been marked by a year-and-a-half of tension and public disagreements with President Trump regarding the direction of the Federal Reserve’s interest rate policies. At an event on Thursday evening, where First Lady Melania premiered her film at the Trump-Kennedy Center, Trump eagerly hinted at his forthcoming choice to lead the Fed for the next four years.

During the event, President Trump expressed that he had finalized his decision, describing his nominee as “someone very respected, known to everyone in the financial world.” He added that many believed this person could have held the position earlier, fueling speculation that Warsh was the chosen candidate, especially since he was a finalist in 2017. Presently, the 55-year-old Warsh is a scholar and lecturer at Stanford, a member of the international Group of 30, and part of the Panel of Economic Advisers at the Congressional Budget Office.

At 35 he became the youngest-ever person to get a seat on the Board of Governors at the Federal Reserve. Some analysts speculate Warsh’s nomination is a welcomed one due to his Fed experience and Wall Street’s view that he wouldn’t always do Trump’s bidding. But that doesn’t mean he’s a shoe-in. Republican Senator Thom Tillis of North Carolina floated in a conversations with Politico blocking the nominee until the investigation into Powell is done.

‘I don’t have any problem with him trying to do it,’ the retiring senator told Dasha Burns on her The Conversation podcast when asked about the president exerting control of the Fed. He added: ‘I have a problem with people being quiet on our side when we definitely can stand in the breach and prevent it from happening. And that’s what I’m doing. That’s a typical tug and pull.’ Trump has tried, and failed, to influence Powell on how to change rates at the Fed.

He has frequently attacked the Chairman on social media, calling him ‘stupid,’ a ‘jerk,’ a ‘major loser,’ a ‘knucklehead’ and ‘Mr. Too Late.’ Most recently the president called Powell a ‘moron’ this month for holding interest rates steady and claiming he is costing the US ‘hundreds of billions’ in interest and expenses.