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Jan 30, 2026 4:28 PM - Connect Newsroom - Ramandeep Kaur with files from The Canadian Press
U.S. President Donald Trump has nominated Kevin Warsh to serve as the next chair of the Federal Reserve, a move that could signal a shift in the direction of American monetary policy. The nomination comes as the term of current chair Jerome Powell is set to expire in May.
Warsh, 55, previously served as a Federal Reserve governor from 2006 to 2011, a period that included the global financial crisis. He is well known in financial and policy circles and is viewed as an experienced figure with deep familiarity with central banking and global markets.
President Trump has repeatedly criticized Powell and the Federal Reserve for maintaining higher interest rates, arguing they have slowed economic growth. The decision to nominate Warsh is being made amid long standing political pressure from the White House on the traditionally independent central bank.
Economic analysts say Warsh is seen as a candidate who could appeal both to financial markets and to the Trump administration. Investors view him as a steady and familiar presence, while Trump has praised his willingness to question the Fed’s current policy approach.
The nomination is also being closely watched in Canada, where U.S. interest rate decisions often influence borrowing costs, currency markets and broader economic conditions across the country.
