Washington, Jan 30 (NationPress) President Donald Trump announced on Friday his intention to nominate Kevin Warsh to take the position of Chairman of the Board of Governors of the Federal Reserve System.

“I am pleased to announce that I am nominating Kevin Warsh to be the CHAIRMAN OF THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM,” Trump expressed in a statement.

Highlighting Warsh's current academic and professional roles, Trump noted that Warsh “currently serves as the Shepard Family Distinguished Visiting Fellow in Economics at the Hoover Institution, and Lecturer at the Stanford Graduate School of Business.”

He is also a Partner at Duquesne Family Office with Stanley Druckenmiller. Warsh “received his A.B. from Stanford University and J.D. from Harvard Law School.” Furthermore, Warsh “has conducted extensive research in the field of Economics and Finance.”

Trump mentioned Warsh's work internationally, stating that Warsh “issued an Independent Report to the Bank of England proposing reforms in the conduct of Monetary Policy in the United Kingdom.” He added, “Parliament adopted the Report’s recommendations.”

Trump emphasized Warsh’s previous tenure at the U.S. central bank, noting that he “became the youngest Fed Governor, ever, at 35.” Warsh served “as a Member of the Board of Governors of the Federal Reserve System from 2006 until 2011.”

During his time there, Trump stated, Warsh held several senior roles, including “as the Federal Reserve’s Representative to the Group of Twenty (G-20).” He also worked “as the Board’s Emissary to the Emerging and Advanced Economies in Asia.”

Trump noted Warsh's internal leadership responsibilities at the Fed, where he served as “Administrative Governor, managing and overseeing the Board’s operations, personnel, and financial performance.”

Before his Federal Reserve role, Warsh worked in the White House. From 2002 to 2006, he was “Special Assistant to the President for Economic Policy.” He also held the position of “Executive Secretary of the White House National Economic Council,” according to Trump.

Trump also highlighted Warsh's private-sector experience, stating that he “was a member of the Mergers & Acquisitions Department at Morgan Stanley & Co., in New York,” where he served “as Vice President and Executive Director.”

Offering strong personal endorsement, Trump remarked, “I have known Kevin for a long period of time,” adding, “I have no doubt that he will go down as one of the GREAT Fed Chairmen, maybe the best.” He concluded, “On top of everything else, he is ‘central casting,’ and he will never let you down.”

Warsh is set to succeed Jerome Powell, who has been at the helm of the Federal Reserve since 2018. Powell was first nominated as Fed Chair by Trump during his earlier term, guiding U.S. monetary policy through the COVID-19 pandemic and a significant increase in inflation. Under Powell’s leadership, the Fed raised interest rates aggressively to manage price pressures, impacting global markets and economies.