Carney Backs Warsh’s Fed Nomination

On Friday, Mark Carney, the Canadian Prime Minister, expressed support for President Donald Trump’s nomination of Kevin Warsh as the next Federal Reserve Chairman, a position currently held by Jerome Powell.

Trump shared his endorsement of Warsh on Trust Social earlier that morning, suggesting that Warsh might become one of the most esteemed chairs in Federal Reserve history. Carney, a member of Canada’s Liberal Party, commented on social media that Warsh is “an excellent choice to lead the world’s most important central bank at this critical time.”

As of now, Warsh has not provided any public comment regarding his nomination.

In a tweet, Carney remarked on Warsh’s qualifications and his significant contributions to central banking.

Previously, Carney held the role of Bank of England governor from 2013 to 2020, as detailed on his LinkedIn profile. He and Warsh have been acquainted for several years; notably, Carney appointed Warsh to oversee a transparency review of major banks in 2014 during his tenure at the BoE, according to reports.

Carney made headlines earlier this month when he spoke of a “new world order” while discussing partnerships with China in Beijing. During this visit, he noted the swift progress in relations with the Chinese President, Xi Jinping. When pressed for clarification on his statement regarding a “new world order,” Carney responded that the world is still figuring out what that order will entail. His government also announced a new strategic partnership with China focusing on various sectors.

A few days later, on January 24, Trump referred to Carney derogatorily as the “governor” and warned of 100% tariffs if Canada pursued agreements with China.

Warsh served on the Federal Reserve Board from 2006 to 2011 and presently holds the position of Shepard Family Visiting Fellow at the Hoover Institution, as well as a lecturer at Stanford Graduate School of Management.