{
  "data_version": "1",
  "schema": "https://whatledto.com/data",
  "id": "kevin-warsh",
  "name": "Kevin Warsh",
  "kind": "person",
  "url": "https://whatledto.com/who/kevin-warsh",
  "description": "Former Fed governor who succeeded Jerome Powell as chair in 2026.",
  "same_as": [
    "https://en.wikipedia.org/wiki/Kevin_Warsh"
  ],
  "timelines": [
    {
      "slug": "mortgage-rates-2025-2026",
      "title": "Mortgage Rates: One Week Below 6 Percent, Then Back Above 7",
      "url": "https://whatledto.com/events/mortgage-rates-2025-2026",
      "json": "https://whatledto.com/events/mortgage-rates-2025-2026.json",
      "role": "His August 2026 Jackson Hole speech was cited as one factor accompanying a rise in daily mortgage rates.",
      "entries": 1,
      "updated_at": "2026-10-21T11:43:22.659430+00:00"
    },
    {
      "slug": "fed-rate-path-2025-2026",
      "title": "The Fed's Rate Path: From the 2024 Cuts to Warsh's First Meetings",
      "url": "https://whatledto.com/events/fed-rate-path-2025-2026",
      "json": "https://whatledto.com/events/fed-rate-path-2025-2026.json",
      "role": "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.",
      "entries": 14,
      "updated_at": "2026-10-16T02:10:22.232634+00:00"
    }
  ],
  "entries": [
    {
      "timeline": "fed-rate-path-2025-2026",
      "id": 1787,
      "url": "https://whatledto.com/events/fed-rate-path-2025-2026#n1787",
      "date": "2026-10-01",
      "date_precision": "day",
      "title": "Trump says he wants Warsh to vote as Trump wants on rates",
      "summary": "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.",
      "type": "response",
      "entities": [
        "Donald Trump",
        "Kevin Warsh",
        "Federal Reserve"
      ],
      "parties": [
        "donald-trump",
        "kevin-warsh",
        "federal-reserve"
      ],
      "sources": [
        {
          "url": "https://www.businesstimes.com.sg/companies-markets/banking-finance/fed-policymakers-lean-against-october-rate-hike",
          "outlet": "The Business Times, reporting Reuters and Bloomberg",
          "published": "2026-10-02",
          "quote": "“Asked about his comments later on Thursday, Trump said he wants Warsh to ‘vote the way he wants.’”"
        }
      ]
    },
    {
      "timeline": "fed-rate-path-2025-2026",
      "id": 1776,
      "url": "https://whatledto.com/events/fed-rate-path-2025-2026#n1776",
      "date": "2026-10",
      "date_precision": "month",
      "title": "Trump says Warsh should have opposed the September rate increase",
      "summary": "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.",
      "type": "response",
      "entities": [
        "Donald Trump",
        "Kevin Warsh",
        "Federal Reserve",
        "Federal Open Market Committee"
      ],
      "parties": [
        "donald-trump",
        "kevin-warsh",
        "federal-reserve",
        "federal-open-market-committee"
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      "sources": [
        {
          "url": "https://news.bloomberglaw.com/esg/trump-says-warsh-should-have-voted-against-feds-rate-hike",
          "outlet": "Bloomberg Law",
          "published": "2026-10-01",
          "quote": "I don’t blame Kevin Warsh. I probably would have voted against the board if I were him,"
        },
        {
          "url": "https://qz.com/trump-warsh-fed-rate-hike-vote-100126",
          "outlet": "Quartz",
          "published": "2026-10-01",
          "quote": "President Donald Trump said Federal Reserve Chair Kevin Warsh should have voted against the central bank's recent decision to raise interest rates, but added that he does not hold Warsh personally responsible for the move."
        }
      ]
    },
    {
      "timeline": "fed-rate-path-2025-2026",
      "id": 1349,
      "url": "https://whatledto.com/events/fed-rate-path-2025-2026#n1349",
      "date": "2026-09-16",
      "date_precision": "day",
      "title": "Trump says he told Warsh to vote with the Board",
      "summary": "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.",
      "type": "response",
      "entities": [
        "Donald Trump",
        "Kevin Warsh",
        "Federal Reserve"
      ],
      "parties": [
        "donald-trump",
        "kevin-warsh",
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      "sources": [
        {
          "url": "https://www.axios.com/2026/09/17/why-the-federal-reserve-hiked-rates-this-week",
          "outlet": "Axios",
          "published": "2026-09-17",
          "quote": "I talked to Kevin. I said, 'You might as well vote with the board because it's not going to matter,'"
        }
      ]
    },
    {
      "timeline": "fed-rate-path-2025-2026",
      "id": 1348,
      "url": "https://whatledto.com/events/fed-rate-path-2025-2026#n1348",
      "date": "2026-09-16",
      "date_precision": "day",
      "title": "Warsh says underlying inflation trends have not meaningfully improved",
      "summary": "Kevin Warsh said summer inflation readings did not show that underlying trends had meaningfully improved. Axios reported the statement on September 16.",
      "type": "response",
      "entities": [
        "Kevin Warsh",
        "Federal Reserve"
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      "sources": [
        {
          "url": "https://www.axios.com/2026/09/16/fed-rates-warsh-trump",
          "outlet": "Axios",
          "published": "2026-09-16",
          "quote": "This summer's inflation readings do not tell me that underlying trends have meaningfully improved."
        }
      ]
    },
    {
      "timeline": "fed-rate-path-2025-2026",
      "id": 430,
      "url": "https://whatledto.com/events/fed-rate-path-2025-2026#n430",
      "date": "2026-09-04",
      "date_precision": "day",
      "title": "August payrolls jump 162,000; traders put 60 percent odds on a hike at the September 15 to 16 meeting",
      "summary": "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.",
      "type": "report",
      "entities": [
        "Bureau of Labor Statistics",
        "Federal Open Market Committee",
        "Kevin Warsh"
      ],
      "parties": [
        "bureau-of-labor-statistics",
        "federal-open-market-committee",
        "kevin-warsh"
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      "sources": [
        {
          "url": "https://www.cnbc.com/2026/09/04/jobs-report-august-2026.html",
          "outlet": "CNBC",
          "published": "2026-09-04",
          "quote": "Traders were still pricing in about 60% odds of a quarter percentage point increase at the central bank's policy meeting Sept. 15-16, according to the CME Group's FedWatch tool."
        }
      ]
    },
    {
      "timeline": "mortgage-rates-2025-2026",
      "id": 1316,
      "url": "https://whatledto.com/events/mortgage-rates-2025-2026#n1316",
      "date": "2026-08-31",
      "date_precision": "day",
      "title": "Daily rates hit a 2026 high of 6.87% after Warsh's first Jackson Hole speech",
      "summary": "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.",
      "type": "report",
      "entities": [
        "Kevin Warsh",
        "Federal Reserve",
        "Mortgage News Daily"
      ],
      "parties": [
        "kevin-warsh",
        "federal-reserve",
        "mortgage-news-daily"
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      "sources": [
        {
          "url": "https://www.homes.com/news/daily-mortgage-rate-averages-climb-to-2026-high-after-fed-chair-speech/443965879/",
          "outlet": "Homes.com",
          "published": "2026-08-31",
          "quote": "The average daily 30-year, fixed-rate mortgage rate rose to 6.87% on Monday, its highest level of 2026, according to Mortgage News Daily."
        }
      ]
    },
    {
      "timeline": "fed-rate-path-2025-2026",
      "id": 429,
      "url": "https://whatledto.com/events/fed-rate-path-2025-2026#n429",
      "date": "2026-08-28",
      "date_precision": "day",
      "title": "Jackson Hole: Warsh says inflation is too high and the Fed may have work to do",
      "summary": "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.",
      "type": "announcement",
      "entities": [
        "Kevin Warsh",
        "Federal Reserve"
      ],
      "parties": [
        "kevin-warsh",
        "federal-reserve"
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      "sources": [
        {
          "url": "https://www.federalreserve.gov/newsevents/speech/warsh20260828a.htm",
          "outlet": "Federal Reserve Board",
          "published": "2026-08-28",
          "quote": "Here is my standard: We must be confident that underlying inflation is moving to our objective, clearly and at sufficient speed. Otherwise, we have work to do."
        }
      ]
    },
    {
      "timeline": "fed-rate-path-2025-2026",
      "id": 427,
      "url": "https://whatledto.com/events/fed-rate-path-2025-2026#n427",
      "date": "2026-07-29",
      "date_precision": "day",
      "title": "Fifth straight hold; three regional presidents dissent in favour of a rate increase",
      "summary": "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.",
      "type": "announcement",
      "entities": [
        "Federal Open Market Committee",
        "Kevin Warsh",
        "Beth Hammack",
        "Neel Kashkari",
        "Lorie Logan"
      ],
      "parties": [
        "federal-open-market-committee",
        "kevin-warsh",
        "beth-hammack",
        "neel-kashkari",
        "lorie-logan"
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      "sources": [
        {
          "url": "https://www.federalreserve.gov/newsevents/pressreleases/monetary20260729a.htm",
          "outlet": "Federal Reserve Board",
          "published": "2026-07-29",
          "quote": "Voting against the monetary policy action were Beth M. Hammack, Neel Kashkari, and Lorie K. Logan, who preferred to raise the target range for the federal funds rate by 1/4 percentage point at this meeting."
        }
      ]
    },
    {
      "timeline": "fed-rate-path-2025-2026",
      "id": 818,
      "url": "https://whatledto.com/events/fed-rate-path-2025-2026#n818",
      "date": "2026-07-09",
      "date_precision": "day",
      "title": "Federal Reserve announces five monetary-policy task forces",
      "summary": "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.",
      "type": "announcement",
      "entities": [
        "Federal Reserve",
        "Kevin Warsh",
        "Federal Open Market Committee"
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          "url": "https://www.federalreserve.gov/newsevents/pressreleases/monetary20260709a.htm",
          "outlet": "Federal Reserve Board",
          "published": "2026-07-09",
          "quote": "The Federal Reserve on Thursday announced the leadership and objectives of its task forces to advance the conduct of monetary policy."
        }
      ]
    },
    {
      "timeline": "fed-rate-path-2025-2026",
      "id": 449,
      "url": "https://whatledto.com/events/fed-rate-path-2025-2026#n449",
      "date": "2026-07-08",
      "date_precision": "day",
      "title": "June FOMC minutes disclose Warsh task-force plans",
      "summary": "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.",
      "type": "report",
      "entities": [
        "Kevin Warsh",
        "Federal Open Market Committee",
        "Federal Reserve"
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      "parties": [
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      "sources": [
        {
          "url": "https://www.federalreserve.gov/monetarypolicy/fomcminutes20260617.htm",
          "outlet": "Federal Reserve Board",
          "published": "2026-07-08",
          "quote": "The Chairman described plans to establish five independent task forces to examine issues related to the broad conduct of monetary policy."
        }
      ]
    },
    {
      "timeline": "fed-rate-path-2025-2026",
      "id": 425,
      "url": "https://whatledto.com/events/fed-rate-path-2025-2026#n425",
      "date": "2026-06-17",
      "date_precision": "day",
      "title": "Warsh's first meeting: a unanimous hold and a rewritten, shorter statement",
      "summary": "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.",
      "type": "announcement",
      "entities": [
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      "sources": [
        {
          "url": "https://www.federalreserve.gov/newsevents/pressreleases/monetary20260617a.htm",
          "outlet": "Federal Reserve Board",
          "published": "2026-06-17",
          "quote": "The Federal Open Market Committee approved the following statement for release by a 12 – 0 vote: The Committee decided to maintain the target range for the federal funds rate at 3-1/2 to 3-3/4 percent, in support of the Federal Reserve's dual mandate."
        },
        {
          "url": "https://www.federalreserve.gov/monetarypolicy/fomcprojtabl20260617.htm",
          "outlet": "Federal Reserve Board",
          "published": "2026-06-17",
          "quote": "Eighteen participants submitted information in conjunction with the June 16–17, 2026, meeting."
        }
      ]
    },
    {
      "timeline": "fed-rate-path-2025-2026",
      "id": 424,
      "url": "https://whatledto.com/events/fed-rate-path-2025-2026#n424",
      "date": "2026-05-22",
      "date_precision": "day",
      "title": "Warsh sworn in as chair at the White House; the FOMC elects him unanimously",
      "summary": "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.",
      "type": "announcement",
      "entities": [
        "Kevin Warsh",
        "Federal Reserve",
        "Donald Trump"
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        "federal-reserve",
        "donald-trump"
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      "sources": [
        {
          "url": "https://www.federalreserve.gov/newsevents/pressreleases/other20260522a.htm",
          "outlet": "Federal Reserve Board",
          "published": "2026-05-22",
          "quote": "President Donald J. Trump nominated Mr. Warsh on March 4, 2026. He was confirmed by the United States Senate to serve as a member of the Board on May 12, and as chairman of the Board on May 13. His term as chairman ends on May 21, 2030, and his term as a member of the Board ends on January 31, 2040."
        }
      ]
    },
    {
      "timeline": "fed-rate-path-2025-2026",
      "id": 446,
      "url": "https://whatledto.com/events/fed-rate-path-2025-2026#n446",
      "date": "2026-05-15",
      "date_precision": "day",
      "title": "Federal Reserve names Powell chair pro tempore",
      "summary": "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.",
      "type": "announcement",
      "entities": [
        "Jerome Powell",
        "Kevin Warsh",
        "Federal Reserve"
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          "url": "https://www.federalreserve.gov/newsevents/pressreleases/other20260515a.htm",
          "outlet": "Federal Reserve Board",
          "published": "2026-05-15",
          "quote": "Powell will serve as chair pro tempore until Warsh is sworn in as the new chair."
        }
      ]
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      "timeline": "fed-rate-path-2025-2026",
      "id": 423,
      "url": "https://whatledto.com/events/fed-rate-path-2025-2026#n423",
      "date": "2026-05-13",
      "date_precision": "day",
      "title": "Senate confirms Warsh 54 to 45, the narrowest vote for a Fed chair in the modern era",
      "summary": "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.",
      "type": "announcement",
      "entities": [
        "Kevin Warsh",
        "Jerome Powell",
        "U.S. Senate",
        "John Fetterman"
      ],
      "parties": [
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        "jerome-powell",
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        "john-fetterman"
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      "sources": [
        {
          "url": "https://www.cnbc.com/2026/05/13/kevin-warsh-wins-senate-confirmation-as-the-next-federal-reserve-chair.html",
          "outlet": "CNBC",
          "published": "2026-05-13",
          "quote": "The Senate voted 54-45 to confirm Warsh, ending a monthslong saga that began in the summer of 2025 and included an extensive search for Powell's successor. The vote was almost completely along party lines, with only Pennsylvania Democrat Sen. John Fetterman crossing over to vote for Warsh, who becomes the 11th Fed chair of the modern banking era."
        }
      ]
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      "id": 420,
      "url": "https://whatledto.com/events/fed-rate-path-2025-2026#n420",
      "date": "2026-01-30",
      "date_precision": "day",
      "title": "Trump names Kevin Warsh to succeed Powell as Fed chair",
      "summary": "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.",
      "type": "announcement",
      "entities": [
        "Donald Trump",
        "Kevin Warsh",
        "Jerome Powell",
        "Federal Reserve"
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          "url": "https://www.cnbc.com/2026/01/30/trump-nominates-kevin-warsh-for-federal-reserve-chair-to-succeed-jerome-powell.html",
          "outlet": "CNBC",
          "published": "2026-01-30",
          "quote": "President Donald Trump on Friday named Kevin Warsh to succeed Jerome Powell as Federal Reserve chair, ending a prolonged odyssey that has seen unprecedented turmoil around the central bank."
        },
        {
          "url": "https://www.whitehouse.gov/releases/2026/01/wide-acclaim-for-president-trumps-nomination-of-kevin-warsh-as-fed-chair/",
          "outlet": "The White House",
          "published": "2026-01-30",
          "quote": "Today, President Donald J. Trump announced his nomination of Kevin Warsh to serve as Chairman of the Board of Governors of the Federal Reserve System."
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