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OAN Staff Cory Hawkins
Friday, January 30, 2026
UPDATE: 1/30/25 – 3:07 pm – President Donald Trump has nominated Kevin Warsh to be his appointee as the next Federal Reserve Chair. He is an American financier and bank executive who served as a member of the Federal Reserve Board of Governors from 2006 to 2011.
During a Cabinet meeting, President Trump indicated he would announce his pick for Federal Reserve Chair next week. However, later that evening at the Kennedy Center, he updated his timeline, stating he would reveal the nominee the following morning. This shift occurred shortly after Trump met with Warsh at the White House that day, which appears to have finalized his decision.
The accelerated announcement likely stemmed from mounting speculation and leaks.
For instance, prediction markets like Polymarket had already pegged Warsh as the frontrunner at 94% odds following the meeting, and media reports began circulating that an announcement was imminent.
By moving up the reveal to Friday, Trump may have aimed to control the narrative, reduce market uncertainty, as stocks dipped amid rumors, and prevent further volatility ahead of the weekend.
Warsh was born in Albany, New York. He earned a bachelor’s degree with honors from Stanford University in 1992, where he studied public policy with a focus on economics and statistics. He then attended Harvard Law School, concentrating on the intersection of law, economics, and regulatory policy, and received his J.D. in 1995. In addition, Warsh pursued advanced coursework in market economics and debt capital markets at Harvard Business School and MIT’s Sloan School of Management.
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2:29 P.M. PT – President Donald Trump announced that he will choose his nominee to chair the Federal Reserve “sometime next week,” replacing Jerome Powell, the current chairman he has frequently clashed with over the past year.
“We are going to be announcing the head of the Fed, who that will be,” Trump said at his monthly Cabinet meeting at the White House on Thursday. “It will be a person that will, I think, do a good job. We’re paying far too much interest in the Fed. The Fed rate is too high, unacceptably high.”
Trump noted that he picked a group of four finalists for the position: National Economic Council Director Kevin Hassett, former Member of the Federal Reserve Board of Governors Kevin Warsh, BlackRock executive Rick Rieder and Federal Reserve Governor Christopher Waller.
Trump recently slammed Powell in a Truth Social post, blaming him for the Federal Reserve’s decision to keep interest rates at 3.5%-3.75% following a 10-2 vote, which Trump claimed ultimately threatens the country’s national security.
“Jerome ‘Too Late’ Powell again refused to cut interest rates, even though he has absolutely no reason to keep them so high. He is hurting our Country, and its National Security. We should have a substantially lower rate now that even this moron admits inflation is no longer a problem or threat. He is costing America Hundreds of Billions of Dollar a year in totally unnecessary and uncalled for INTEREST EXPENSE.” Trump wrote.
Powell’s term ends in May, but his tenure as a board member runs through 2028. Trump originally appointed Powell as chairman of the seven-member board in 2017. Former President Joe Biden nominated him for a second four-year term in 2021, which Congress confirmed in 2022.
Trump has repeatedly criticized Powell’s interest rate policies and hinted that he may appoint a new Fed chairman more aligned with his economic agenda.
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