Insiders: Trump has proposed selecting financier Kevin Warsh as Treasury Secretary

2024-11-22 13:27:20

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ChainCatcher news, according to Jin Shi reports, sources familiar with the matter revealed that U.S. President-elect Donald Trump has proposed selecting financier Kevin Warsh as his Secretary of the Treasury, but there is an understanding that Warsh may be nominated to lead the Federal Reserve when Jerome Powell's term as Chairman ends in 2026.

Some insiders said that Trump discussed possible arrangements with Warsh at his private club Mar-a-Lago in Florida on Wednesday. Warsh is a leading candidate to head the Treasury Department, but as of Thursday evening, Trump has not yet decided who to choose for this key cabinet position. Sources familiar with the situation stated that Trump is still weighing how to handle the vacancy for the Federal Reserve Chair position and may wait until Powell's term ends in May 2026 to make a final decision.
Some of these individuals said that Trump is considering appointing investor Scott Bessent to lead the National Economic Council, and if Warsh becomes the Federal Reserve Chair, Bessent would be nominated for Secretary of the Treasury later in his term.

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