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US Fed Chairman LIVE Updates: The President of the United States, Donald Trump, announced that he has picked Kevin Warsh to succeed Chair Jerome Powell as the head's designated term as Chairman of the central bank nears an end.

“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,” said Donald Trump in his recent post on Truth Social.

Earlier, Donald Trump said that he would announce the new Federal Reserve Chairman on Friday, 30 January 2026, amid his repeated pleas asking for further rate cuts in the US economy.

“I’ll be announcing the Fed chair tomorrow morning,” said Trump at the Kennedy Centre on Thursday, 29 January 2026.

President Trump's statement comes a day after the US Federal Reserve's FOMC (Federal Open Market Committee) decided to keep the key benchmark rates for the US economy steady.

On Wednesday, 28 January 2026, the Jerome Powell-led FOMC kept the key benchmark interest rates steady at the range of 3.50-3.75% as the central bank plans to carefully assess incoming data, the evolving outlook, and the balance of risks.

Out of the 12 members, 10 members voted in favour of the Fed's rate hold decision for the interest rates, while the other two, Stephen Miran and Christopher Waller, voted for a 25-basis-point rate cut.

“In support of its goals, the Committee decided to maintain the target range for the federal funds rate at 3-1/2 to 3-3/4 per cent. In considering the extent and timing of additional adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks,” according to the official statement.

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US President Donald Trump announced that Kevin Warsh is the next candidate who is set to replace Chairman Jerome Powell as the veteran's designated term comes to an end this year.

In his announcement, Trump also said that Kevin Warsh was the youngest US Fed Governor at the age of 35 back in 2006, and he remained in his role until 2011.

Donald Trump also said that Kevin Warsh, during his stint as a Fed Governor, acted as the Federal Reserve's Representative to the Group of Twenty (G-20), and as the Board's Emissary to the Emerging and Advanced Economies in Asia.

“In addition, he was Administrative Governor, managing and overseeing the Board's operations, personnel, and financial performance,” Trump said.

Kevin Warsh, age 55, is a former Federal Reserve Governor who served on the Federal Reserve's Board of Governors from 2006 to 2011. Warsh is a close ally of US President Donald Trump and has advised the president on economic policy.

Currently, Warsh is serving as the Shepard Family Distinguished Visiting Fellow in Economics at the Hoover Institution and also as a Lecturer at the Stanford Graduate School of Business.

“He is a Partner of Stanley Druckenmiller at Duquesne Family Office LLC. Kevin received his A.B. from Stanford University, and J.D. from Harvard Law School. He has conducted extensive research in the field of Economics and Finance. Kevin issued an Independent Report to the Bank of England proposing reforms in the conduct of Monetary Policy in the United Kingdom,” said Donald Trump in his recent post on Truth Social.

US President Doanld Trump in his Truth Social announcment said that he has known Kevin Warsh for a long time and he thinks there is no doubt that that new candidate will be one of the greatest Chairman of the US Federal Reserve.

“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. On top of everything else, he is ‘central casting,’ and he will never let you down. Congratulations Kevin!” said Trump in his post on Truth Social.

“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,” said Donald Trump in his recent post on Truth Social.

US President Donald Trump picks former Kevin Warsh as the next US Federal Reserve Chairman!

Several candidate names are reportedly under consideration as US President Donald Trump is set to announce the successor to Chair Jerome Powell as his designated terms are set to come to an end.

According to a recent Reuters report, these candidates include White House National Economic Director Kevin Hassett, former Fed governor Kevin Warsh, current Fed governor Christopher Waller, and BlackRock executive Rick Rieder.

After Trump's nominee announcement, the candidate's recommendation will be sent to the US Senate for confirmation.

US President Donald Trump, on Thursday, said that he will be announcing the new Federal Reserve Chairman candidate's name on Friday, 30 January 2026, amid his repeated pleas asking for further rate cuts in the US economy.

“I’ll be announcing the Fed chair tomorrow morning,” Trump said at the Kennedy Centre on Thursday, 29 January 2026, reported the news agency Reuters.

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