REED STATEMENT ON NOMINATION OF KEVIN WARSH FOR FED CHAIR

The following information was released by Rhode Island Senator Jack Reed:

Today, U.S. Senator Jack Reed (D-RI), a member of the Senate Banking, Housing, and Urban Affairs Committee, issued the following statement regarding President Trump's announcement that he intends to nominate Kevin Warsh to replace Jerome Powell as Chair of the Federal Reserve when Powell's term expires in May of 2026:

"Is Mr. Warsh more attuned to President Trump's personal preferences versus the very real struggles of America's hard-working families? That's a key question that must be answered.

"The financial security and well-being of the American people must come first. Right now, Americans believe the economy is headed in the wrong direction, so we need to hear more about Mr. Warsh's plans to help turn things around and what safeguards he'll support to ensure the Fed's independence.

"We also need to look at his track record as a Fed governor during the financial crisis and probe how his views seem to have drastically changed since then."