U.S. President Donald Trump has officially nominated Kevin Warsh to become the next Chair of the Federal Reserve, sending the nomination to the United States Senate for approval.

The White House confirmed on Wednesday that Warsh has been nominated for a four-year term as Fed Chair and a 14-year term as a member of the Federal Reserve Board of Governors. Trump had previously revealed his choice in a January 30 social media post, stating that Warsh would replace current Fed Chair Jerome Powell.

Powell’s term as chair is scheduled to end on May 15, although he could remain a Federal Reserve governor until January 31, 2028.

Warsh’s Background and Bitcoin Views

Warsh previously served as a Federal Reserve governor from 2006 to 2011 during the administrations of George W. Bush and Barack Obama. After leaving the Fed, he became a visiting fellow in economics at the Hoover Institution at Stanford University.

Warsh has publicly expressed positive views about Bitcoin in several interviews. In a 2021 interview with CNBC’s “Squawk Box,” he suggested that Bitcoin has become a modern alternative to gold for younger investors.

He later stated in a 2025 Hoover Institution interview that Bitcoin could serve as a tool to provide market discipline and signal when economic policies need adjustment.

Warsh said that Bitcoin does not concern him and described it as an important asset that could help policymakers better understand whether economic decisions are working effectively.

CFTC Leadership Still Unfilled

While Trump has formally nominated Warsh for the Federal Reserve position, the administration has not yet submitted nominations for additional leadership roles at the Commodity Futures Trading Commission.

Currently, Michael Selig, confirmed in December, is the only leader at the agency, which typically operates with five commissioners.

The CFTC is expected to gain expanded authority over digital assets if a crypto market structure bill currently moving through the Senate becomes law.

Possible Senate Opposition

It remains unclear when the Senate will vote on Warsh’s nomination. However, the proposal may face resistance from Democratic lawmakers.

Chuck Schumer has previously warned Republican lawmakers not to move forward with Warsh’s nomination unless he commits to maintaining the Federal Reserve’s independence from political influence.

Schumer stated that Warsh must demonstrate that the Fed would remain independent and free from political pressure before being confirmed.

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Disclaimer

This content is for informational purposes only and not financial advice. Crypto markets are risky, so always do your own research and invest only what you can afford to lose.