Image Credit: Getty Images for Semafor Kevin Warsh was nominated by Donald Trump to replace Jerome Powell as chair of the Federal Reserve when Powell's term ends in May 2026. Trump announced the decision in a post on Truth Social, writing, "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." In the same post, Trump praised Warsh's leadership and experience, adding that he has known him "for a long period of time" and believes he will be "one of the GREAT Fed chairmen.