{"id":24288,"date":"2026-04-10T11:44:29","date_gmt":"2026-04-10T11:44:29","guid":{"rendered":"https:\/\/businessprofittoday.com\/index.php\/2026\/04\/10\/kevin-warsh-set-to-lead-fed-in-may-says-white-house-adviser\/"},"modified":"2026-04-10T11:44:29","modified_gmt":"2026-04-10T11:44:29","slug":"kevin-warsh-set-to-lead-fed-in-may-says-white-house-adviser","status":"publish","type":"post","link":"https:\/\/businessprofittoday.com\/index.php\/2026\/04\/10\/kevin-warsh-set-to-lead-fed-in-may-says-white-house-adviser\/","title":{"rendered":"Kevin Warsh set to lead Fed in may, says White House adviser"},"content":{"rendered":"
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White House economic adviser Kevin Hassett said on Thursday that he is confident Kevin Warsh will assume the role of Federal Reserve chairman in May, signalling a potential leadership transition at the US central bank.<\/p>\n

Speaking to Fox Business Network, Hassett stated, “I’m highly confident that that will happen,” referring to Warsh\u2019s expected appointment.<\/p>\n

He added that preparations for the confirmation process are progressing, noting that a hearing for Warsh is likely to begin as early as next week.<\/p>\n

Hassett\u2019s remarks suggest growing certainty within the administration regarding the timing and direction of the Federal Reserve\u2019s leadership change, with Warsh positioned as the preferred successor.<\/p>\n

Powell expected to step aside after confirmation<\/h2>\n

Hassett also addressed the future of current Federal Reserve Chairman Jerome Powell, indicating that Powell has signalled his willingness to step down once a new chair is confirmed.<\/p>\n

“He’s really signaled that once there’s a confirmed head chair, that he’ll step aside, and that’s the appropriate thing for him to do,” Hassett said during an appearance on the Mornings with Maria programme.<\/p>\n

However, Powell\u2019s own recent statements suggest a more subtle position regarding his future at the central bank.<\/p>\n

In March, Powell indicated that he would not leave the Federal Reserve until a criminal investigation led by US Attorney Jeanine Pirro is concluded.<\/p>\n

He also noted that he has yet to decide whether he will remain on the Federal Reserve\u2019s Board of Governors, where his term extends until 2028.<\/p>\n

This introduces a degree of uncertainty around the leadership transition, particularly if the investigation prolongs Powell\u2019s tenure in any capacity.<\/p>\n

Trump-Powell tensions deepen over interest rate policy<\/h2>\n

The current standoff also reflects a long-standing and often strained relationship between Donald Trump and Powell, which dates back to Powell\u2019s appointment in February 2018 following Janet Yellen.<\/p>\n

Despite being Trump\u2019s own nominee and a registered Republican, Powell soon became a point of contention after the Federal Reserve continued raising interest rates.<\/p>\n

During his first year as chair, Powell oversaw four rate hikes as part of a policy normalisation cycle that had begun under Yellen in 2015, taking the federal funds rate to a range of 2.25% to 2.50% by the end of 2018, its highest level in a decade.<\/p>\n

By mid-2019, however, Trump openly criticised the Fed\u2019s stance.<\/p>\n

Aarguing that higher rates strengthened the US dollar and undermined American exporters amid escalating trade tensions with China.<\/p>\n

“We don\u2019t have that advantage because we have a Fed that doesn\u2019t lower interest rates,” Trump said on CNBC in June 2019.<\/p>\n

Although the Fed later reversed course and cut rates three times in 2019 as economic growth softened.<\/p>\n

Trump continued to criticise Powell, at times referring to Fed officials as \u201cboneheads\u201d <\/a>and publicly mocking the chair.<\/p>\n

The tensions have intensified during Trump\u2019s second term, with the president repeatedly urging the central bank to implement deeper rate cuts even after it delivered three consecutive quarter-point reductions starting in September.<\/p>\n

Recently, Trump has escalated his stance from public criticism to directly pressuring Powell to either lower interest rates further or step down, ahead of the end of Powell\u2019s term in May 2026.<\/p>\n

Legal developments may delay leadership transition<\/h2>\n

Adding to the complexity, a US judge last week upheld a block on warrants issued as part of the investigation into Powell.<\/p>\n

The ruling sets the stage for a likely appeal, which could further delay efforts by President Donald Trump to install a new Federal Reserve chief.<\/p>\n

The legal proceedings may therefore play a significant role in shaping the timeline of leadership changes at the central bank, even as the administration signals confidence in Warsh\u2019s imminent appointment.<\/p>\n

As the situation evolves, the interplay between political decisions and ongoing legal challenges is expected to remain a key factor influencing the Federal Reserve\u2019s leadership outlook.<\/p>\n

The post Kevin Warsh set to lead Fed in may, says White House adviser<\/a> appeared first on Invezz<\/a><\/p>\n

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