On January 30, after U.S. President Trump announced his nomination of former Federal Reserve Board member Kevin Warsh as the next Federal Reserve Chair, the Wall Street Journal published an article introducing that Kevin Warsh's wife is Jane Lauder, a senior executive at Estee Lauder and also the heir to the Estee Lauder fortune. Warsh's father-in-law, Ronald Lauder, is a long-time classmate of Trump and also one of the major financial backers of the Republican Party.
At the same time of announcing the nomination, Trump wrote on the "Truth Social" platform: "I have known Kevin for many years, and I have no doubt he will be one of the greatest Federal Reserve Chairs in history, perhaps even the best. In addition, he is a typical candidate for this position in every way, and will never disappoint anyone."
Kevin Warsh, aged 55, served as a member of the Federal Reserve Board from February 2006 to March 2011. At that time, he was the youngest member in the history of the Federal Reserve. Before becoming a member of the Federal Reserve Board, Warsh served as an economic advisor in the Bush administration and worked at Morgan Stanley as an investment banker.
Photo of Kevin Warsh and his wife attending an event in 2016, reported by the U.S. media site The Daily Beast.
Shortly after Trump won the presidential election in 2016, Warsh joined an external business leader group that provided advice to the White House.
In 2017, when Janet Yellen's term as Federal Reserve Chair was about to end, both Warsh and Powell were considered as potential candidates for the chairmanship, but Powell eventually got the job.
According to the Wall Street Journal, Warsh had met with Trump at that time. One of the reasons he failed to get the position was that Trump thought the 47-year-old Warsh looked "too young" at the time.
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Original: toutiao.com/article/7601150458559824430/
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