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Trump might name Kevin Warsh as Treasury chief then Fed chair later, report says

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Kevin Warsh

Jin Lee | Bloomberg | Getty Images

President-elect Donald Trump is considering naming Kevin Warsh as Treasury secretary then ultimately sending him off to serve as Federal Reserve chair, according to a Wall Street Journal report.

A former Fed governor himself, Warsh would move over to the central bank after current Chair Jerome Powell’s term expires in 2026, according to the Journal, which cited sources familiar with Trump’s thinking.

The speculation comes with Treasury being the last major Cabinet position for which Trump has yet to state his intention.

Various reports have put Warsh as one of the finalists with Apollo Global Management CEO Marc Rowan and hedge fund manager Scott Bessent. Among the potential scenarios would be one where Bessent would lead the National Economic Council initially then go over to Treasury after Warsh takes over at the Fed.

However, Trump is known for the propensity to change his mind, and the report noted that nothing has been finalized.

Read the full Wall Street Journal story here.

Economics

Matt Gaetz withdraws from consideration as America’s attorney-general

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MATT GAETZ, Donald Trump’s choice for America’s attorney-general, spent November 20th meeting senators and telling reporters it had been “a great day of momentum”. The next day, however, Mr Gaetz withdrew his name from consideration, acknowledging that “my confirmation was unfairly becoming a distraction.” This was not self-effacement from a MAGA firebrand, but a reflection of reality: Mr Gaetz had little chance of being confirmed even by a Republican-controlled Senate. The Republican Party may belong to Mr Trump, but his power is not absolute.

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Economics

Democrats are still processing their defeat

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THESE ARE NOT the reports Democrats were hoping to prepare. Instead of transition plans for the incoming Kamala Harris administration, draft executive orders and legislative outlines, Democrats are producing post-mortem analyses of how their campaign came apart in 2024. Those Democrats who are honest with themselves are recognising an uncomfortable truth: as awful, immoral and weird as they consider the Republican Party, the American people considered it to be the better option for governing America.

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Economics

Will Donald Trump now pardon the January 6th rioters?

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Many Americans hope that Donald Trump will fulfil his campaign pledges to bring down prices and deport illegal immigrants. But a small group of convicted rioters are on tenterhooks over another electioneering promise. Mr Trump has repeatedly vowed to free his supporters who were imprisoned for storming the Capitol on January 6th 2021. He has repeatedly called them “hostages” and “unbelievable patriots” while recasting the attempt to disrupt the peaceful transfer of power as “a day of love”. “Why are they still being held?” Mr Trump mused weeks before the election. His return to the White House means he could soon pardon them all.

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