<p><span style="font-weight: 400;">President Trump declared on Tuesday that Kevin Warsh might have to sit next to him in the White House.</span></p>
<p><span style="font-weight: 400;">The president said on CNBC&#8217;s &#8220;Squawk Box&#8221; that if the $2.5 billion renovations at the Federal Reserve are not wrapped up by the time former Fed Governor Kevin Warsh is confirmed as the new chair, he might not have a place to work.</span></p>
<p><span style="font-weight: 400;">Anchor Joe Kernan </span><a href="https://www.cnbc.com/video/2026/04/21/president-trump-i-would-be-disappointed-if-kevin-warsh-doesnt-cut-rates-right-away.html"><span style="font-weight: 400;">pushed back</span></a><span style="font-weight: 400;"> on the president, saying, “I don’t know if Warsh will want to sit next to you after what happened to Jay Powell.”</span></p>
<p><span style="font-weight: 400;">Trump responded, “Maybe I’d like him next to me. Maybe it’s not a bad idea — Jerome Powell. I call him &#8216;too late.&#8217; He’s always too late,” the president said, referring to his infamous nickname for the current Fed Chair, Jerome “Too Late” Powell.</span></p>
<p><span style="font-weight: 400;">Trump revealed he would be “disappointed” if Warsh did not cut interest rates. “We should always have the lowest interest rate in the world,” he said. “When I was a young guy growing up, we always had the lowest interest rate worldwide.”</span></p>
<p><span style="font-weight: 400;">During Trump’s first term, the federal funds rate was at a near-zero range, beginning at 0.50%-0.75% and ultimately falling to 0.00%-0.25% during the COVID-19 pandemic. Rates peaked at 2.25-2.50% in the second year of his term, which is about half as high as the peak during the Biden administration.</span></p>
<p><span style="font-weight: 400;">Trump says his new Fed chair is straight out of “central casting” and that “he’s going to do a great job.” While the president seems confident Warsh will lower interest rates, other economists regard Warsh as a hawk. “Warsh’s long-running hawkish views should help to counteract concerns that he might morph into a full-blown Trump stooge,” </span><a href="https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-01-30-2026/card/would-warsh-be-a-hawk-or-dove-as-fed-chair--aCblKxbKeE8i0ZN2jla9"><span style="font-weight: 400;">said</span></a><span style="font-weight: 400;"> Deputy Chief Economist at Capital Economics Stephen Brown.</span></p>
<p><span style="font-weight: 400;">Warsh is set to testify before the Senate Banking Committee on Tuesday, which is considering his nomination. Sen. Thom Tillis (R-NC), a member of the Banking Committee, says he’ll block not just Warsh, but any nominee until the Department of Justice probe into Jerome Powell is resolved. Trump’s DOJ is currently investigating the Federal Reserve’s </span><a href="https://www.federalreserve.gov/faqs/building-project-faqs.htm"><span style="font-weight: 400;">$2.5</span></a><span style="font-weight: 400;"> billion renovations, which were approved by Powell.</span></p>
<p><span style="font-weight: 400;">When asked point-blank if he would turn over the investigation to the Senate Banking Committee in order to get Kevin Warsh approved for Fed Chair, Trump stood firm on letting the Department of Justice complete the investigation. </span></p>

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Trump Says New Fed Chair’s Office Might Be In the White House