World Jewish Congress President Ronald Lauder’s son-in-law, Kevin Warsh, was nominated by Donald Trump to succeed Jerome Powell as chair of the Federal Reserve when Powell’s term ends in May 2026, according to Reuters.
Warsh, a former Fed governor and longtime figure in US economic policy circles, will face a Senate confirmation process that is already showing signs of political turbulence.
Trump said he expected the nomination to move quickly, arguing Warsh should have “no trouble” winning Senate approval and suggesting the pick could attract some Democratic support. But Reuters reported that Thom Tillis, a Republican on the Senate Banking Committee, said he would block the confirmation until a United States Department of Justice inquiry involving Powell is “fully and transparently resolved.”
The Reuters report said the investigation focuses on cost overruns tied to a building renovation project at the Fed’s Washington headquarters. Powell has denied wrongdoing and described the probe as a pretext to pressure the central bank over monetary policy.
A veteran of the financial crisis
Warsh, 55, previously served on the Fed’s Board of Governors from 2006 to 2011 and played a role during the 2008-2009 financial crisis, working alongside then-chair Ben Bernanke as the central bank launched emergency measures to stabilize markets. Reuters noted he joined the Fed at 35, making him the board’s youngest member at the time.
After leaving government, Warsh moved into academia and finance. Reuters reported that he joined Stanford University’s Hoover Institution and lectured at Stanford’s Graduate School of Business, while also working with billionaire Stanley Druckenmiller’s family office.
The Lauder link, and why it draws attention in Israel
Warsh’s most visible Jewish connection is family: he is married to Jane Lauder, and his father-in-law is billionaire Ronald Lauder.
Ronald Lauder is a major figure in organized Jewish life. He founded the Ronald S. Lauder Foundation, which he says now supports dozens of Jewish schools, kindergartens, and camps across Eastern Europe, and he has led the World Jewish Congress since 2007. The Conference of Presidents’ bio also highlights his long list of Jewish communal roles, including ties to institutions such as Yad Vashem and the Tel Aviv Museum.
Mainstream biographies do not clearly document Warsh's own religious identity. A Jewish community publication, JWeekly, described Warsh as Jewish in the context of “Jewish candidates” for senior Trump roles. Jewish Insider has also described him as Jewish in coverage tied to his nomination. Reuters’ biographical sketch, by contrast, focuses on his financial-policy career and his marriage to the Lauder family, without addressing religion.
Jane Lauder and Judaism
Jane Lauder’s Jewish connection runs through her family. Corporate disclosures and company material describe her as Ronald Lauder’s daughter, and Ronald Lauder’s own corporate biography foregrounds his leadership of Jewish schools in Europe and his presidency of the World Jewish Congress.
The public primarily profiles Jane Lauder through her executive roles at The Estée Lauder Companies and her family-business leadership.
Lauder is familiar beyond US political circles. He has led the World Jewish Congress for years and has remained a high-profile philanthropic and advocacy figure tied closely to Israel and Jewish communities worldwide. In May 2025, Isaac Herzog awarded Lauder Israel’s Presidential Medal of Honor following Lauder’s re-election at the World Jewish Congress plenary assembly in Jerusalem.
The family connection does not carry formal authority over US monetary policy. The Fed chair is expected to operate independently. However, the nomination brings a prominent Jewish communal leader closer to the Fed, an institution whose decisions shape borrowing costs and global market sentiment.
The Fed’s interest-rate decisions often influence global capital flows, the strength of the dollar, and investor appetite for risk, factors that filter quickly into Israel’s economy. When US rates remain high, financing can stay expensive for growth companies and startups. When markets expect lower rates, pressure can ease across credit and funding.
Reuters reported that Trump has pressed for major interest-rate cuts and that he told reporters he expected Warsh to lower rates while also saying he did not seek specific commitments.
Warsh’s confirmation timeline now hinges on Senate math and committee dynamics, including how lawmakers handle the standoff tied to the Justice Department inquiry involving Powell.