Kevin Warsh
Former Fed governor who succeeded Jerome Powell as chair in 2026.
Role in each timeline
- Mortgage Rates: One Week Below 6 Percent, Then Back Above 7
His August 2026 Jackson Hole speech was cited as one factor accompanying a rise in daily mortgage rates.
- The Fed's Rate Path: From the 2024 Cuts to Warsh's First Meetings
Former Fed governor appointed by President Trump and confirmed as chair in May 2026; he led the June and July meetings and supported September's unanimous rate increase.
Kevin Warsh across every timeline
Every dated entry that names Kevin Warsh, from all 2 timelines, newest first.
- Trump says he wants Warsh to vote as Trump wants on rates Response
Donald Trump said he wanted Federal Reserve Chair Kevin Warsh to vote as Trump wanted on interest rates. The statement followed Warsh's participation in the September rate increase.
on The Fed's Rate Path: From the 2024 Cuts to Warsh's First Meetings - Trump says Warsh should have opposed the September rate increase Response
Donald Trump said he would probably have voted against the Federal Reserve Board if he were Kevin Warsh. He said Warsh should have voted against the Federal Reserve's recent decision to raise interest rates while saying he did not hold Warsh personally responsible.
on The Fed's Rate Path: From the 2024 Cuts to Warsh's First Meetings - Trump says he told Warsh to vote with the Board Response
Donald Trump said he told Kevin Warsh to vote with the Federal Reserve Board because the outcome would not change. Axios reported Trump's statement on September 17.
on The Fed's Rate Path: From the 2024 Cuts to Warsh's First Meetings - Warsh says underlying inflation trends have not meaningfully improved Response
Kevin Warsh said summer inflation readings did not show that underlying trends had meaningfully improved. Axios reported the statement on September 16.
on The Fed's Rate Path: From the 2024 Cuts to Warsh's First Meetings - August payrolls jump 162,000; traders put 60 percent odds on a hike at the September 15 to 16 meeting Report
Nonfarm payrolls rose 162,000 against a 53,000 consensus, the strongest month since March, with unemployment steady at 4.1 percent; bars and restaurants led and information jobs fell, possibly on AI investment. Short-dated Treasury yields rose and CME FedWatch showed about 60 percent odds of a quarter-point increase at the first meeting with new projections under Warsh, pending the August CPI and PPI reports the following week.
on The Fed's Rate Path: From the 2024 Cuts to Warsh's First Meetings - Daily rates hit a 2026 high of 6.87% after Warsh's first Jackson Hole speech Report
Mortgage News Daily's daily average for the 30-year fixed rate reached 6.87 percent, the highest of 2026, after Federal Reserve chair Kevin Warsh used his first Jackson Hole speech to say inflation progress over the past two years had been modest and that recent data did not suggest underlying trends had meaningfully improved. Markets read it as a signal that a rate increase was possible later in the year.
on Mortgage Rates: One Week Below 6 Percent, Then Back Above 7 - Jackson Hole: Warsh says inflation is too high and the Fed may have work to do Announcement
In his first Jackson Hole keynote, on his hundredth day as chair, Warsh declined to offer forward guidance or a reaction function, said this summer's better inflation readings did not show underlying trends had meaningfully improved, and set his standard as confidence that inflation is moving to target clearly and at sufficient speed. He also argued AI investment could lift growth substantially. Two-year yields jumped and futures moved to better than even odds of a September hike.
on The Fed's Rate Path: From the 2024 Cuts to Warsh's First Meetings - Fifth straight hold; three regional presidents dissent in favour of a rate increase Announcement
The FOMC voted 9 to 3 to keep the range at 3.5 to 3.75 percent, with Hammack, Kashkari and Logan preferring a quarter-point increase, the first dissents for a hike since 2019 and a sign the debate under Warsh had flipped from when to cut to whether to tighten. Inflation remained elevated relative to target and core PCE was running near 3.3 percent.
on The Fed's Rate Path: From the 2024 Cuts to Warsh's First Meetings - Federal Reserve announces five monetary-policy task forces Announcement
The Federal Reserve announced the leadership and objectives of five task forces on monetary-policy practice. The task forces will examine communications, balance-sheet policy, data, productivity and jobs, and inflation frameworks, with findings intended for the Federal Open Market Committee.
on The Fed's Rate Path: From the 2024 Cuts to Warsh's First Meetings - June FOMC minutes disclose Warsh task-force plans Report
The June FOMC minutes said Kevin Warsh described plans to establish five independent task forces. The task forces were to examine issues related to the broad conduct of monetary policy.
on The Fed's Rate Path: From the 2024 Cuts to Warsh's First Meetings - Warsh's first meeting: a unanimous hold and a rewritten, shorter statement Announcement
The committee held at 3.5 to 3.75 percent by a 12 to 0 vote, its first unanimous decision since June 2025, and issued a shorter statement in a new format that leads with the decision and reaffirms a policy of ample reserves. It described growth as solid despite uncertainty from the Middle East conflict, productivity and capital investment as strong, and inflation as elevated relative to target.
on The Fed's Rate Path: From the 2024 Cuts to Warsh's First Meetings - Warsh sworn in as chair at the White House; the FOMC elects him unanimously Announcement
Justice Clarence Thomas administered the oath in the East Room with Trump present, saying he wanted Warsh to be totally independent. The Fed noted that Trump had formally nominated Warsh on March 4, the Senate had confirmed him as a governor on May 12 and as chair on May 13, and that his term as chair runs to May 21, 2030, with a board term to January 31, 2040. The same day the FOMC unanimously chose him as its chairman.
on The Fed's Rate Path: From the 2024 Cuts to Warsh's First Meetings - Federal Reserve names Powell chair pro tempore Announcement
The Federal Reserve Board named Jerome H. Powell chair pro tempore. Powell was to serve in that role until Kevin Warsh was sworn in as chair.
on The Fed's Rate Path: From the 2024 Cuts to Warsh's First Meetings - Senate confirms Warsh 54 to 45, the narrowest vote for a Fed chair in the modern era Announcement
Only Pennsylvania Democrat John Fetterman crossed party lines. The confirmation came as fresh data showed inflation well above 2 percent and producer-price pressures at a three-year high, and markets had stopped pricing cuts. Powell's chair term expired two days later; he said he would stay on the board at least until the investigation into the Fed's headquarters renovation was complete, the first former chair to remain as governor in nearly 80 years.
on The Fed's Rate Path: From the 2024 Cuts to Warsh's First Meetings - Trump names Kevin Warsh to succeed Powell as Fed chair Announcement
Ending a search that had run since the summer of 2025 and considered nearly a dozen names, including governors Waller and Bowman, Trump announced on Truth Social that former governor Kevin Warsh, 55, would be his nominee for chair when Powell's term ended in May. Warsh, a Fed governor from 2006 to 2011 who had called for regime change at the central bank, would take the board seat held by Miran, whose term expired the next day. Gold and silver fell on the pick as markets read it as less of a threat to independence.
on The Fed's Rate Path: From the 2024 Cuts to Warsh's First Meetings