financetom
Economy
financetom
/
Economy
/
White House confident Warsh will lead Fed in May
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
White House confident Warsh will lead Fed in May
Apr 9, 2026 7:04 AM

WASHINGTON, April 9 (Reuters) - White House economic adviser Kevin Hassett said on Thursday that he was confident Kevin Warsh would start as Federal Reserve chairman in May and that he did not expect current Fed chairman Jerome Powell to remain on the board.

"I'm highly confident that that will happen," Hassett told Fox Business Network, adding that he believed a confirmation hearing for Warsh was on track to begin next week.

Hassett said Powell had indicated he would leave the central bank once a new chair was selected.

"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 on the "Mornings with Maria" program.

However, Powell said in March he would not leave the Fed at least until a criminal investigation spearheaded by U.S. Attorney Jeanine Pirro is over and that he had not yet decided whether to remain in a governor's seat on the central bank's board that lasts until 2028.

Powell's term as Fed chief ends in May.

A U.S. judge last week upheld a block on subpoenas issued in the investigation into Powell, setting up a likely appeal that could further delay President Donald Trump's move to install a more compliant central bank head.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
What's at stake as Trump's tariffs threaten EU exports
What's at stake as Trump's tariffs threaten EU exports
May 26, 2025
May 26 (Reuters) - U.S. President Donald Trump has backed away from a threat to impose 50% tariffs imminently on imports from the European Union, giving more time for talks between Washington and the 27-nation bloc to produce a deal. Economically, both sides have much at stake. The United States was the trading bloc's biggest export partner in 2024, making...
France, Vietnam set to sign dozens of deals as Macron visits Hanoi
France, Vietnam set to sign dozens of deals as Macron visits Hanoi
May 26, 2025
* Macron meets Vietnam leaders on Monday in first visit to Hanoi * State visit comes amid growing trade tensions with Washington * Progress possible on Airbus planes, satellite, sources say * Europeans worry Hanoi's flagged Boeing ( BA ) deals may impact Airbus By Francesco Guarascio and Phuong Nguyen HANOI, May 26 (Reuters) - France and Vietnam are set...
Trump's 'Big, Beautiful' Bill Hits Migrants With New Remittance Tax — Experts Say It Could Fuel Black Market And Hurt America's 'Very Poor'
Trump's 'Big, Beautiful' Bill Hits Migrants With New Remittance Tax — Experts Say It Could Fuel Black Market And Hurt America's 'Very Poor'
May 26, 2025
President Donald Trump's big, beautiful bill, about to face the Senate, entails a new 3.5% tax on remittance transfers from non-citizens, drawing widespread criticism for disproportionately affecting poor migrants while failing to completely close off channels for sending money overseas. What Happened: The United States was responsible for over $656 billion in global remittances in 2023, and the newly passed...
Fed's Kashkari calls for steady rates, awaits clarity on tariff impact
Fed's Kashkari calls for steady rates, awaits clarity on tariff impact
May 27, 2025
TOKYO (Reuters) -Federal Reserve Bank of Minnesota President Neel Kashkari on Tuesday called for keeping interest rates steady until there is more clarity on how higher tariffs affect inflation, warning against looking through the impact of such supply price shocks. The shock to the economy from President Donald Trump's sweeping tariffs, and uncertainty over U.S. trade policy, are forcing central...
Copyright 2023-2026 - www.financetom.com All Rights Reserved