Kevin Warsh Set to Take Reins as Federal Reserve Chairman

Kevin Hassett, White House economic adviser, expressed confidence that Kevin Warsh would assume the role of Federal Reserve Chairman in May, succeeding Jerome Powell. Despite Powell's commitment to stay until the conclusion of a criminal investigation, President Trump's administration is keen to expedite Warsh's confirmation process.

White House economic adviser Kevin Hassett stated Thursday that he is assured Kevin Warsh will become the Federal Reserve's new chairman starting in May, replacing Jerome Powell.

Speaking on Fox Business Network, Hassett revealed that Warsh's confirmation hearing is poised to commence next week, while Powell indicated his willingness to step down once Warsh is confirmed.

However, Powell mentioned in March that he would remain on the Federal Reserve until a criminal investigation led by U.S. Attorney Jeanine Pirro concludes. With his term ending in May, recent judicial rulings could further delay the transition expected by President Donald Trump's administration.

(With inputs from agencies.)