President Trump announced on 30 January 2026 that he was nominating Kevin Warsh to become the next Chair of the Fed, though Senator Thom Tillis, who sits on the Senate Banking Committee that is set to consider the nomination, has said that he would oppose Warsh's appointment until a Department of Justice investigation into Jerome Powell is "fully" resolved (Truth Social, CNBC, Politico). Jerome Powell's current term as Chair of the Fed ends on 15 May 2026 (Federal Reserve). The question would close early upon a withdrawal of Warsh's nomination after being formally submitted to the Senate, a full Senate vote against confirmation, or Warsh publicly stating that he will no longer seek the office of Chair of the Fed.

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