Trump nominee Kevin Warsh for Fed chair: Senate confirmation prospects and economic expectations
TOI GLOBAL DESK | TOI GLOBAL | Feb 01, 2026, 15:40 IST
In a bold move, President Donald Trump expresses strong confidence that his choice for Federal Reserve Chair, Kevin Warsh, will secure Senate confirmation. Trump is optimistic that Warsh’s esteemed qualifications may attract some bipartisan support, even from Democratic senators. However, the nomination faces hurdles, as Republican Senator Thom Tillis publicly pledges to obstruct the process.
President Donald Trump expressed confidence that his nominee for Federal Reserve Chair, Kevin Warsh, will secure Senate confirmation, suggesting Warsh could even garner Democratic support due to his qualifications. Trump made these remarks aboard Air Force One on Saturday, January 31st, following his Friday announcement of Warsh as his pick to lead the central bank when Jerome Powell's term concludes in May. Warsh, a former Fed insider, faces a potentially challenging confirmation process, with Republican Senator Thom Tillis vowing to block the nomination until a Justice Department probe into current Chair Powell is resolved. Trump had previously criticized Tillis as an "obstructionist" and indicated his administration was prepared to wait for Warsh's confirmation. Trump also stated his expectation that Warsh would lower interest rates, though he denied seeking specific commitments from his nominee.
"I think he may get Democrat votes. He's so good that he'll probably get Democrat votes. He should," Trump told reporters.
Trump described Warsh as a "high-quality person" and asserted that his nominee "should have no trouble getting through" the confirmation process. Warsh is being considered to head the Federal Reserve when Chair Jerome Powell's term as governor ends in May, though Powell's tenure as a Fed governor continues through 2028.
The confirmation process for Warsh is anticipated to be contentious. Republican Senator Thom Tillis announced on Friday that he would impede the confirmation until a Justice Department inquiry concerning Powell is "fully and transparently resolved."
Trump had previously labeled Tillis, who has differed with the president on certain matters, as an "obstructionist." He also stated that his administration was prepared to delay Warsh's confirmation until after Tillis's departure from the Senate.
Senator Tillis is a member of the Senate Banking Committee, which is responsible for reviewing Federal Reserve nominations. This committee has a slim Republican majority of 13-11. Consequently, the loss of even a single Republican vote could delay the nomination from reaching the full Senate, where Republicans hold a narrow three-vote majority.
On Saturday, President Trump suggested that Warsh might secure confirmation even without Senator Tillis's support. However, he did not provide any specifics regarding which Democratic senators might lend their backing to his candidate.
The Justice Department initiated its investigation into Jerome Powell earlier this month. The probe is primarily focused on alleged cost overruns related to a building renovation project at the Federal Reserve's headquarters in Washington.
Jerome Powell has maintained his innocence, denying any wrongdoing. He has characterized the investigation as a "pretext" intended to exert pressure on the Federal Reserve regarding its monetary policy decisions. President Trump has repeatedly called for the Federal Reserve to implement significant interest rate reductions to stimulate the economy, at one point referring to Powell as "Too Late" for his perceived hesitation in complying with these demands.
When questioned about his expectations regarding Warsh's stance on interest rates, President Trump stated, "He's going to lower them. I mean, if you watch him on television, you know, because I watch interviews and statements. I hope he's going to lower them, but he's going to have to do what he want to do."
When asked if Warsh had made any specific commitments to lower interest rates, Trump responded, "No, because I don't want to do that. I could do that, I guess, if I wanted, but I didn't do it."
"I think he may get Democrat votes. He's so good that he'll probably get Democrat votes. He should," Trump told reporters.
Trump described Warsh as a "high-quality person" and asserted that his nominee "should have no trouble getting through" the confirmation process. Warsh is being considered to head the Federal Reserve when Chair Jerome Powell's term as governor ends in May, though Powell's tenure as a Fed governor continues through 2028.
The confirmation process for Warsh is anticipated to be contentious. Republican Senator Thom Tillis announced on Friday that he would impede the confirmation until a Justice Department inquiry concerning Powell is "fully and transparently resolved."
Trump had previously labeled Tillis, who has differed with the president on certain matters, as an "obstructionist." He also stated that his administration was prepared to delay Warsh's confirmation until after Tillis's departure from the Senate.
Senator Tillis is a member of the Senate Banking Committee, which is responsible for reviewing Federal Reserve nominations. This committee has a slim Republican majority of 13-11. Consequently, the loss of even a single Republican vote could delay the nomination from reaching the full Senate, where Republicans hold a narrow three-vote majority.
On Saturday, President Trump suggested that Warsh might secure confirmation even without Senator Tillis's support. However, he did not provide any specifics regarding which Democratic senators might lend their backing to his candidate.
The Justice Department initiated its investigation into Jerome Powell earlier this month. The probe is primarily focused on alleged cost overruns related to a building renovation project at the Federal Reserve's headquarters in Washington.
Jerome Powell has maintained his innocence, denying any wrongdoing. He has characterized the investigation as a "pretext" intended to exert pressure on the Federal Reserve regarding its monetary policy decisions. President Trump has repeatedly called for the Federal Reserve to implement significant interest rate reductions to stimulate the economy, at one point referring to Powell as "Too Late" for his perceived hesitation in complying with these demands.
When questioned about his expectations regarding Warsh's stance on interest rates, President Trump stated, "He's going to lower them. I mean, if you watch him on television, you know, because I watch interviews and statements. I hope he's going to lower them, but he's going to have to do what he want to do."
When asked if Warsh had made any specific commitments to lower interest rates, Trump responded, "No, because I don't want to do that. I could do that, I guess, if I wanted, but I didn't do it."