Published by Global Banking & Finance Review®
Posted on February 5, 2026
1 min readLast updated: February 5, 2026
Add as preferred source on GoogleBoE's Andrew Bailey endorses Kevin Warsh for U.S. Fed Chair, highlighting both Warsh and Powell's qualifications as Powell's term ends in May.
LONDON, Feb 5 (Reuters) - Bank of England governor Andrew Bailey on Thursday welcomed U.S. President Donald Trump's choice of former Federal Reserve Governor Kevin Warsh to head the U.S. central bank when Jerome Powell's leadership term ends in May.
"I welcome the nomination of Kevin Warsh," Bailey told a press conference. "This is not a Jay (Powell) versus Kevin thing ...I know both of them very well. They're both very qualified."
(Reporting by David Milliken, Andy Bruce and William Schomberg, writing by William James; Editing by Kate Holton)
A central bank is a financial institution that manages a country's currency, money supply, and interest rates, and oversees the banking system.
Monetary policy refers to the actions taken by a central bank to control the money supply and interest rates to achieve macroeconomic goals.
Financial stability is a condition where the financial system operates effectively, with institutions able to manage risks and absorb shocks.
The Fed Chair is the head of the Federal Reserve System, responsible for overseeing the central bank's operations and implementing monetary policy.
Explore more articles in the Finance category
