WASHINGTON, D.C. — Pennsylvania Sen. Dave McCormick praised President Donald Trump’s nomination of Kevin Warsh to lead the Federal Reserve, calling the choice a steady hand for an institution at the center of the nation’s fight against inflation and economic uncertainty.
“I applaud President Trump’s nomination of Kevin Warsh to be Chairman of the Federal Reserve,” McCormick said in a statement following the announcement. He described Warsh as a longtime friend and colleague and said the nominee is well suited to balance inflation control with economic growth, job creation, and opportunity.
Trump formally nominated Warsh on Friday to succeed Jerome Powell, whose four-year term as chair expires in May 2026. The nomination sets the stage for a consequential leadership change at the central bank as policymakers grapple with interest rates, inflation pressures, and political scrutiny over the Fed’s independence.
Warsh is no stranger to the institution. He served on the Federal Reserve Board of Governors from 2006 to 2011 after being appointed by President George W. Bush, becoming the youngest governor in the Fed’s history at age 35. During the 2008 financial crisis, he played a central role as a liaison between the Federal Reserve and Wall Street as markets unraveled.
A Stanford University graduate with a law degree from Harvard Law School, Warsh began his career in mergers and acquisitions at Morgan Stanley before entering public service. More recently, he has served as a distinguished visiting fellow at the Hoover Institution and as a lecturer at the Stanford Graduate School of Business.
Trump announced the nomination on Truth Social, praising Warsh as having the “whole package” and likening his presence to someone drawn from “central casting.” The pick followed a months-long search led by Treasury Secretary Scott Bessent and came after Warsh emerged ahead of other contenders, including White House economic adviser Kevin Hassett, current Fed Governor Christopher Waller, and BlackRock executive Rick Rieder.
The nomination reflects Trump’s long-standing frustration with Powell, whom he has repeatedly criticized for not cutting interest rates aggressively enough. While Warsh has historically been viewed as a monetary policy hawk focused on inflation control, he has more recently signaled openness to lower rates and what he has described as a need for “regime change” at the Federal Reserve to increase accountability.
McCormick said Pennsylvanians should be confident the nomination will bring common sense leadership to the central bank at a pivotal moment for the economy.
Still, the path to confirmation is uncertain. Democrats, including Sen. Elizabeth Warren of Massachusetts, have raised concerns that the nomination could threaten the Fed’s independence. On the Republican side, Sen. Thom Tillis of North Carolina has pledged to block any Federal Reserve nominee until a Justice Department probe into renovations at the Fed’s headquarters is resolved. Senate Majority Leader John Thune has acknowledged that confirmation could be difficult without Tillis’s support.
If confirmed, Warsh would assume leadership of the Federal Reserve at a moment when its decisions are under intense political and public scrutiny, with the stakes high for markets, borrowers, and households nationwide.
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