The Brief Kevin Warsh has been announced as the new chair of the Federal Reserve. President Donald Trump said Friday that he will nominate former Federal Reserve official Kevin Warsh to be the next chair of the Fed. Once on the board, Trump could then elevate Warsh to the chair position when Powell’s term ends in May. During his tenure as governor, Warsh opposed some of the low-interest rate policies that the Federal Reserve pursued during and after the 2008-09 Great Recession. Trump’s majority on the Fed’s board could also remove some of the presidents of the 12 regional banks, who are members of the Fed’s rate-setting committee.