Trump names Kevin Warsh as US Central Bank’s next chairman:The nominated person will replace current Fedral Reserve chair Jerome Powell

The US President Donald Trump said on Friday, 30 January, 2026 that he will nominate former Federal Reserve (America’s central bank) official Kevin Warsh to be the next chairman. After Warsh’s Senate approval, he would replace the current chair, Jerome Powell. Why This Matters The Fed makes decisions that affect how much things cost and how easy it is to get a loan. More Control for Trump: Trump has been unhappy with the current Fed boss because he thinks interest rates are too high. Interest rates affect how much you pay to borrow money for things like houses and cars. A Different View on Rates: Warsh used to think interest rates should be high to keep prices down. But recently, he’s said he’s okay with lower rates, which is what Trump wants. What Warsh Might Do Lower Interest Rates? Trump wants lower rates to help the economy and make it cheaper for the government to borrow money. More Say for the White House: Some people worry that Trump wants to control the Fed too much, which could be bad for the economy in the long run. Is This a Big Deal? Yes. The Fed’s decisions affect everyone. If Warsh becomes the new boss, things could change, especially when it comes to interest rates and how much things cost. Warsh’s Background What’s Next? The Senate has to approve Warsh before he can become the new Fed boss. If they do, get ready for some potential changes in the US economy.