Yesterday, the Senate confirmed Kevin Warsh to serve on the Federal Reserve Board of Governors, setting the stage for him to replace the disastrous Jerome Powell as chairman later this week.
The Senate voted 51-45 to confirm Warsh, a former Federal Reserve governor and longtime economic adviser to Trump. Powell’s four-year term as Fed chair expires Friday, and the Senate is expected to take up Warsh’s nomination for chairman shortly afterward.
Prior to serving as an economic adviser to Mr. Trump, Kevin Warsh served on the Federal Reserve Board from 2006 through 2011, becoming the youngest Fed governor in history at age 35. During the 2008 financial crisis, he represented the Fed at G-20 meetings and worked closely with international central banks. Before joining the Fed, Warsh served in President George W. Bush’s White House as Special Assistant for Economic Policy and Executive Secretary of the National Economic Council.
As Fed Chairman, Jerome Powell was a central figure in the Uniparty war on President Trump and his Make America Great Again economic policies.
While Powell led the Fed to prop up Joe Biden and the Democrats with zero or near-zero interest rates, Powell kept interest rates high and slowed economic growth during critical periods of the Trump presidency.
And he is still at it: The Fed last month voted to leave rates unchanged between 3.5 percent and 3.75 percent.
As our friend E.J. Antoni of the Heritage Foundation observed in a May 2025 article, it was Powell’s non-stop money printing that fueled former President Biden’s runaway government spending which, predictably, devalued the dollar and gave us 40-year high inflation. While prices skyrocketed, Powell called inflation “transitory” and said he wasn’t concerned with the disturbing trend.
Worse, to ensure his renomination under Biden, Powell promised that interest rates would stay artificially low indefinitely. That enticed financial institutions and individuals alike to gobble up low-interest-rate securities like government bonds. It was a monetary ticking time bomb.
Right before Powell was confirmed for a second term as Fed Chair, he said a 75 basis- point (0.75 percentage point) interest rate hike was off the table. Immediately after confirmation, he delivered four of those jumbo-sized rate hikes in a row.
The worst inflation in over four decades was promptly—and predictably—followed by the most violent fluctuation in interest rates in just as long. The deadly combination of spikes in both inflation and interest rates was a one-two knockout punch for both fixed-income securities (where most retirees keep their nest egg) and the bond market, which had its worst three-and-a-half-year run in at least a century.
Powell’s monetary mismanagement impoverished all Americans by drastically increasing prices—including the price of borrowing money—creating a cost-of-living crisis.
And Powell’s policies are directly responsible for the unprecedented increase in both home prices and mortgage interest rates, that caused the monthly payment on a median price home to double during the four years of Biden’s presidency, during the entirety of which Powell ran the Fed.
And, as Mr. Antoni pointed out, Powell’s mistakes weren’t confined to the Biden administration. During Trump’s first term, Powell erroneously claimed economic growth would cause inflation and preemptively raised interest rates—essentially creating a cash shortage in certain financial markets, which then began imploding in fall 2019.
President Trump’s desire to fire Powell for gross incompetence, to say nothing of his violations of the law, were stymied by the DC Uniparty, notably outgoing RINO Senator Thom Tillis, who vowed to thwart the nomination of any replacement unless the President laid-off of his well-justified plan to rid America of the worst, and most political, Federal Reserve Chairman in history.
Now that politically corrupt Jerome Powell is justifiably and thankfully out as Chairman, the installation of Kevin Warsh as Chairman of the Federal Reserve, and our journey on the path to America’s economic Golden Age, can’t come soon enough.
George Rasley is editor of Richard Viguerie's ConservativeHQ.com and is a veteran of over 300 political campaigns. A member of American MENSA, he served on the staff of Vice President Dan Quayle, as Director of Policy and Communication for former Congressman Adam Putnam (FL-12) then Vice Chairman of the Oversight and Government Reform Committee's Subcommittee on National Security and Foreign Affairs, and as spokesman for retired Rep. Mac Thornberry formerly a member of the House Intelligence Committee and Chairman of the House Armed Services Committee, and as Director of Communications for now-retired Rep. Jeb Hensarling, formerly Chairman of the House Financial Services Committee.
The Senate voted 51-45 to confirm Warsh, a former Federal Reserve governor and longtime economic adviser to Trump. Powell’s four-year term as Fed chair expires Friday, and the Senate is expected to take up Warsh’s nomination for chairman shortly afterward.
Prior to serving as an economic adviser to Mr. Trump, Kevin Warsh served on the Federal Reserve Board from 2006 through 2011, becoming the youngest Fed governor in history at age 35. During the 2008 financial crisis, he represented the Fed at G-20 meetings and worked closely with international central banks. Before joining the Fed, Warsh served in President George W. Bush’s White House as Special Assistant for Economic Policy and Executive Secretary of the National Economic Council.
As Fed Chairman, Jerome Powell was a central figure in the Uniparty war on President Trump and his Make America Great Again economic policies.
While Powell led the Fed to prop up Joe Biden and the Democrats with zero or near-zero interest rates, Powell kept interest rates high and slowed economic growth during critical periods of the Trump presidency.
And he is still at it: The Fed last month voted to leave rates unchanged between 3.5 percent and 3.75 percent.
As our friend E.J. Antoni of the Heritage Foundation observed in a May 2025 article, it was Powell’s non-stop money printing that fueled former President Biden’s runaway government spending which, predictably, devalued the dollar and gave us 40-year high inflation. While prices skyrocketed, Powell called inflation “transitory” and said he wasn’t concerned with the disturbing trend.
Worse, to ensure his renomination under Biden, Powell promised that interest rates would stay artificially low indefinitely. That enticed financial institutions and individuals alike to gobble up low-interest-rate securities like government bonds. It was a monetary ticking time bomb.
Right before Powell was confirmed for a second term as Fed Chair, he said a 75 basis- point (0.75 percentage point) interest rate hike was off the table. Immediately after confirmation, he delivered four of those jumbo-sized rate hikes in a row.
The worst inflation in over four decades was promptly—and predictably—followed by the most violent fluctuation in interest rates in just as long. The deadly combination of spikes in both inflation and interest rates was a one-two knockout punch for both fixed-income securities (where most retirees keep their nest egg) and the bond market, which had its worst three-and-a-half-year run in at least a century.
Powell’s monetary mismanagement impoverished all Americans by drastically increasing prices—including the price of borrowing money—creating a cost-of-living crisis.
And Powell’s policies are directly responsible for the unprecedented increase in both home prices and mortgage interest rates, that caused the monthly payment on a median price home to double during the four years of Biden’s presidency, during the entirety of which Powell ran the Fed.
And, as Mr. Antoni pointed out, Powell’s mistakes weren’t confined to the Biden administration. During Trump’s first term, Powell erroneously claimed economic growth would cause inflation and preemptively raised interest rates—essentially creating a cash shortage in certain financial markets, which then began imploding in fall 2019.
President Trump’s desire to fire Powell for gross incompetence, to say nothing of his violations of the law, were stymied by the DC Uniparty, notably outgoing RINO Senator Thom Tillis, who vowed to thwart the nomination of any replacement unless the President laid-off of his well-justified plan to rid America of the worst, and most political, Federal Reserve Chairman in history.
Now that politically corrupt Jerome Powell is justifiably and thankfully out as Chairman, the installation of Kevin Warsh as Chairman of the Federal Reserve, and our journey on the path to America’s economic Golden Age, can’t come soon enough.
George Rasley is editor of Richard Viguerie's ConservativeHQ.com and is a veteran of over 300 political campaigns. A member of American MENSA, he served on the staff of Vice President Dan Quayle, as Director of Policy and Communication for former Congressman Adam Putnam (FL-12) then Vice Chairman of the Oversight and Government Reform Committee's Subcommittee on National Security and Foreign Affairs, and as spokesman for retired Rep. Mac Thornberry formerly a member of the House Intelligence Committee and Chairman of the House Armed Services Committee, and as Director of Communications for now-retired Rep. Jeb Hensarling, formerly Chairman of the House Financial Services Committee.
