White House Predicts Kevin Warsh's Appointment as Federal Reserve Chairman
White House confident Kevin Warsh will lead Fed in May
The Economic Times
Image: The Economic Times
White House economic adviser Kevin Hassett expressed confidence that Kevin Warsh will be appointed as the next chairman of the Federal Reserve in May, with a confirmation hearing expected soon. Current chairman Jerome Powell may step down following the selection of a new chair, although he has stated he will remain until a criminal investigation concludes.
- 01Kevin Warsh is expected to become the next Federal Reserve chairman.
- 02Confirmation hearing for Warsh is anticipated to begin next week.
- 03Current chairman Jerome Powell may leave the Fed once a new chair is confirmed.
- 04Powell has not yet decided on remaining in his governor position until 2028.
- 05A criminal investigation into Powell could affect the transition.
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White House economic adviser Kevin Hassett announced his confidence that Kevin Warsh will take over as chairman of the Federal Reserve in May. He indicated that a confirmation hearing for Warsh is expected to commence next week. Hassett noted that current chairman Jerome Powell has signaled he will resign once a new chair is confirmed, which aligns with Powell's previous statements regarding his future at the Fed. However, Powell has also mentioned that he will remain in his position until a criminal investigation led by U.S. Attorney Jeanine Pirro concludes. This investigation could potentially delay the transition, as a recent ruling upheld a block on subpoenas related to the case, likely leading to an appeal. Powell's term as Fed chairman officially ends in May.
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The appointment of a new Federal Reserve chairman could influence U.S. monetary policy, affecting interest rates and economic stability.
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