Trump taps former Fed governor and Coupang director Kevin Warsh as Fed chair

WASHINGTON — U.S. President Donald Trump tapped Kevin Warsh, a former Federal Reserve official, Friday, as the next Fed chair to succeed Jerome Powell, amid his repeated calls for the central bank to lower borrowing costs. Trump announced his nomination of Warsh, who has recently voiced his support for cutting interest rates, as Powell’s term as the Fed chair ends in May, with his stint as a member of the Board of Governors set to expire in January 2028. “I have known Kevin for a long period of time, and have no doubt that he will go down as one of the GREAT Fed Chairmen, maybe the best,” Trump wrote on Truth Social. “On top of everything else, he is “central casting,” and he will never let you down.” The nomination came after Trump repeatedly lambasted Powell for being “too late” in bringing down interests rates — criticism that has stoked concerns about the central bank’s independence. In an unusual video statement earlier this month, Powell disclosed that he was the subject of a probe concerning his congressional testimony last year and the Fed’s building renovation project, casti

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