– Trump announces Kevin Warsh as fed chair pick

President Donald Trump announced conservative economist and former Fed governor Kevin Warsh as his pick to be the new Federal Reserve chairman.

In a post on Truth Social early Friday morning, Trump said that he has “known Kevin for a long period of time, and have no doubt that he will go down as one of the GREAT fed Chairmen, maybe the best.”

“He will never let you down,” Trump continued.

warsh previously served on the Fed’s board of governors from 2006 to 2011. He was a top adviser to then-Fed chairman Ben Bernanke during the 2008 financial crisis, serving as a liaison between the central bank and Wall Street. During that time, he was an inflation “hawk” — skeptical of the Fed’s ultra-low interest rate policy. But in more recent interviews, Warsh has heaped praise on Trump and called for “regime change” at the Fed.

“A lot of people think that this is somebody that could have been there a few years ago,” Trump went on. “It’s going to be somebody that is very respected,somebody that’s known to everybody in the financial world. And I think it’s going to be a very good choice.”

Trump has repeatedly attacked Powell over the past year for his cautious approach to lowering interest rates.

Powell’s term as chairman expires in May.

Federal Reserve Under Scrutiny: Inquiry and Political Pressure (January 2026)

The Federal Reserve is facing a complex situation involving a criminal investigation into renovations at its headquarters and increasing political pressure from former President Donald Trump. This report details the current state of affairs as of January 30, 2026, based on verified facts.

Criminal Investigation into Fed Headquarters Renovation

In January 2026, Federal Reserve Chair Jerome Powell announced the launch of a criminal investigation by federal prosecutors concerning a multi-year renovation project at the Federal Reserve’s headquarters in Washington, D.C. The Department of Justice (DOJ) has not released specific details regarding the nature of the investigation, but it centers on potential irregularities during the renovation process. As of January 30, 2026, the investigation is ongoing.The Federal Reserve has stated its full cooperation with the DOJ.

Federal Open Market Committee (FOMC) Holds Interest Rates Steady

Following its first meeting after the investigation’s announcement, the Federal Open Market Committee (FOMC) voted to maintain current interest rates. The FOMC statement indicated the committee will continue to monitor economic indicators and assess future policy adjustments as needed.

Political Pressure from Donald Trump

Former President Donald Trump has publicly criticized the FOMC’s decision to hold interest rates steady and suggested that a change in leadership at the Federal reserve would alter the governors’ stance. Trump stated that Fed governors would align with his policies under a new chair, implying a desire for lower interest rates. Official White House statements (from the period of Trump’s presidency) consistently demonstrated his preference for lower interest rates to stimulate economic growth.

Current economic Context (January 30, 2026)

As of January 30, 2026, the U.S. economy is experiencing moderate growth with an inflation rate of 2.8%, according to data released by the Bureau of Labor Statistics. the Bureau of Economic Analysis reported a GDP growth rate of 2.5% in the fourth quarter of 2025. The labor market remains tight, with an unemployment rate of 3.7%. These economic conditions are influencing the FOMC’s deliberations regarding future monetary policy.

Note: This report is based on information available as of January 30, 2026. The situation is dynamic, and further developments may occur.All links point to official sources as of the date of this report.