US President Donald Trump may announce Kevin M Warsh as his choice for the next chair of the Federal Reserve on Friday, according to a New York Times report.
“I'll be announcing the Fed chair tomorrow morning,” Trump told reporters. The US President said the process to select a successor to current Fed chair Jerome H Powell, which began last summer, was nearing its end. Asked if he had made his choice, he added, “I do, I better, otherwise I have to go to work very quickly.”
Trump reportedly met with Warsh at the White House on Thursday. Later in the day, the president told reporters he would soon name someone “known to everybody in the financial world.”
“A lot of people think that this is somebody that could've been there a few years ago,” Trump said, seemingly referring to Warsh, whom he considered for the role during his first term.
Who Is Kevin Warsh?
- Kevin M Warsh is a former member of the US Federal Reserve Board of Governors. He was born in Albany, New York.
- Warsh earned a bachelor's degree from Stanford University in 1992. He received a law degree from Harvard Law School in 1995 and completed other coursework at Harvard Business School and MIT's Sloan School of Management.
- In 1995, Warsh joined Morgan Stanley in New York. He rose to vice president and executive director before leaving the firm in 2002.
- From 2002 to 2006, Warsh served in the George W Bush administration as Special Assistant to the President for Economic Policy and Executive Secretary of the White House National Economic Council.
- Warsh was sworn in as a member of the Board of Governors of the Federal Reserve System on February 24, 2006. He served until March 31, 2011.
- After leaving the Federal Reserve, Warsh became a partner at Duquesne Family Office. He has since served as a lecturer at Stanford University's Graduate School of Business and as the Shepard Family Distinguished Visiting Fellow in Economics at the Hoover Institution.
- Warsh serves on the boards of United Parcel Service and Coupang and is a trustee of the Group of Thirty. He is also a member of the Congressional Budget Office's Panel of Economic Advisers.
