Trump officially nominates Kevin Warsh as Fed chair to replace Jerome Powell
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Sen. Thom Tillis has said he would block Kevin Warsh's nomination until a federal criminal investigation of Fed Chair Jerome Powell is dropped
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President Donald Trump on Wednesday officially nominated Kevin Warsh to be the next chairman of the Federal Reserve . Warsh, if confirmed by the Senate, would replace Fed Chairman Jerome Powell , for a four-year term. Trump's nomination was transmitted to the Senate, the White House said in a statement posted online on Wednesday. That transmittal came more than a month after Trump first publicly announced he wanted Warsh as the Fed chairman . Sen. Thom Tillis , a North Carolina Republican, has said he would block Warsh's nomination from proceeding in the Senate until a federal criminal investigation of Powell by the U.S. Attorney's Office in Washington, D.C., is dropped. Read more CNBC politics coverage Iran war live updates: U.S. closes embassies in Saudi Arabia, Kuwait Five races to watch on the day the 2026 midterm elections kick off ‘Mistakes were made,’ Grassley tells Noem about Trump’s immigration crackdown Tillis' stance could prevent the nomination from being considered by the full Senate. Powell said in mid-January that he was under investigation in connection with the $2.5 billion renovation of the Federal Reserve's headquarters in Washington, and his testimony about that project to the Senate. The chair also said that "the threat of criminal charges" against him is directly the result of him and other Fed governors refusing to bow to Trump and his demands that they cut interest rates more quickly than the president has demanded. This is breaking news. Please refresh for updates. Subscribe to CNBC PRO Subscribe to Investing Club Licensing & Reprints CNBC Councils Select Personal Finance Join the CNBC Panel Closed Captioning Digital Products News Releases Internships Corrections About CNBC Site Map Podcasts Careers Help Contact News Tips Got a confidential news tip? We want to hear from you. Get In Touch CNBC Newsletters Sign up for free newsletters and get more CNBC delivered to your inbox Sign Up Now Get this delivered to your inbox, and more info about o...
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