Washington, D.C. – President-elect Donald Trump is reportedly considering Kevin Warsh for the role of Treasury secretary, with the potential to later appoint him as Federal Reserve chair. Sources familiar with Trump’s plans have disclosed to The Wall Street Journal that Warsh, a former Federal Reserve governor, would transition to the central bank after Jerome Powell’s term concludes in 2026.
The speculation arises as Treasury remains the final major Cabinet position for which Trump has yet to announce a decision. Reports have identified Warsh as among the top candidates, alongside Marc Rowan, the CEO of Apollo Global Management, and Scott Bessent, a hedge fund manager. One potential scenario suggests Bessent could initially lead the National Economic Council before moving to the Treasury Department once Warsh assumes the Federal Reserve chairmanship.
However, the President-elect is known for his unpredictability, and the report highlights that no final decision has been made. Trump’s tendency to change his mind could lead to a different outcome, suggesting uncertainty surrounding the appointment. Warsh’s background as a former Federal Reserve governor provides him with a deep understanding of monetary policy and financial regulations, potentially positioning him favorably for both the Treasury and Federal Reserve roles.
The consideration of Warsh for these key positions reflects Trump’s ongoing efforts to shape economic policy in his administration. By potentially selecting Warsh, a familiar face in economic circles, the President-elect could signal continuity in his approach to financial governance, despite the potential shift in roles once Powell’s term ends. Ultimately, the decision on these appointments will undoubtedly impact the nation’s economic landscape for years to come, given the pivotal roles of Treasury secretary and Federal Reserve chair in shaping monetary policy and financial stability.