Trump considers Kevin Warsh as Treasury secretary first, then Fed chairman

according to insiders, US President-elect Trump has proposed selecting financier Kevin Warsh as his Treasury Secretary, but with the 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, the Mar-a-Lago, in Florida on Wednesday.

Warsh is a popular candidate to lead the Treasury Department, but as of Thursday night, Trump had not yet decided who to choose for this key cabinet position. Insiders familiar with the matter said that Trump is still weighing how to handle the vacancy of the Federal Reserve chairman position and may not make a final decision until Powell's term ends in May 2026.

Some say that Trump is considering appointing investor Scott Bessent to lead the National Economic Council, and if Warsh becomes the Federal Reserve chairman, Bessent will be nominated as Treasury Secretary later in his term.