Trump's week in review: Trump Accounts for kids, abortion pill lawsuit intervention
5. Trump announces Kevin Warsh as his choice to lead the Federal Reserve
In a Truth Social post published Friday, Trump announced his nomination of Kevin Warsh to become Chairman of the Board of Governors for the Federal Reserve System. After highlighting Warsh’s educational and professional background, the president said Warsh “will go down as one of the GREAT Fed Chairmen, maybe the best.”
Trump’s nomination of Warsh comes after the president has repeatedly made his distaste for the current Chairman of the Board of Governors for the Federal Reserve System, Jerome Powell, perfectly clear.
Most recently, Trump wrote a Truth Social post denouncing Powell by branding him with the nickname “Too Late” and taking issue with his refusal “to cut interest rates, even though he has absolutely no reason to keep them so high.”
“He is hurting our Country, and its National Security,” Trump insisted. “We should have a substantially lower rate now that even this moron admits inflation is no longer a problem or threat. He is costing America Hundreds of Billions of [Dollars] a year in totally unnecessary and uncalled for INTEREST EXPENSE.”
Warsh’s nomination is subject to confirmation from the Republican-controlled U.S. Senate. Powell’s second four-year term as Chairman of the Board of Governors for the Federal Reserve System is slated to expire later this year.
Ryan Foley is a reporter for The Christian Post. He can be reached at: ryan.foley@christianpost.com
