US President Donald Trump has formally nominated former Federal Reserve governor Kevin Warsh to serve as the next chair of the US central bank, replacing Jerome Powell.
The White House confirmed that Warsh’s nomination has been sent to the US Senate for approval, with the proposed term covering four years as chair and 14 years as a Federal Reserve governor.
“Bitcoin does not make me nervous,”
Warsh said in a past interview discussing the digital asset’s role in financial markets.
Warsh previously served as a Federal Reserve governor from 2006 to 2011 under former presidents George W. Bush and Barack Obama before becoming a visiting fellow in economics at Stanford University’s Hoover Institution.
The nomination comes as Powell’s term as Fed chair is set to end on May 15, though he may remain a Federal Reserve governor until January 2028.
Warsh has previously suggested that Bitcoin could provide market discipline and help signal when policymakers are making economic mistakes.
The nomination now moves to the Senate for confirmation, where Democratic lawmakers have already signalled potential opposition over concerns about maintaining the Federal Reserve’s independence.
At the time of reporting, Bitcoin price was $72,806.63.