Trump may name Kevin Warsh as Treasury chief and then Fed chairman later, the report says

President-elect Donald Trump is considering naming Kevin Warsh as Treasury secretary and eventually sending him away to serve as chairman of the Federal Reserve, according to a Wall Street Journal report.

A former Fed governor himself, Warsh would move to the central bank after current Chairman Jerome Powell’s term expires in 2026, according to the Journal, which cited sources familiar with Trump’s thinking.

The speculation comes with the Treasury Department being the last major Cabinet position for which Trump has yet to signal his intention.

Various reports have put Warsh as one of the finalists with Apollo Global Management CEO Marc Rowan and hedge fund manager Scott Bessent. Among the potential scenarios would be one in which Bessent would lead the National Economic Council initially and then move to the Treasury Department after Warsh takes over the Fed.

However, Trump is known for his propensity to change his mind, and the report noted that nothing has been finalized.

Read the full Wall Street Journal story here.