The man set to be the new chairman of the Federal Reserve has some deep familial ties in the beauty world.
U.S. President Donald Trump said Friday he plans to nominate Kevin Warsh as Fed chair, succeeding Jerome Powell. The move will first need to be approved by the Senate.
“I have known Kevin for a long period of time, and have no doubt that he will go down as one of the great Fed chairmen, maybe the best,” Trump said in a post on Truth Social.
“On top of everything else, he is ‘central casting,’ and he will never let you down.”
Warsh, a former bank executive, served as a member of the Federal Board of Governors between 2006 and 2011 and is now a fellow at the Hoover Institution of Stanford University.
The nomination comes after years of tension between Trump and Powell, who has resisted the president’s call to cut interest rates faster and whose four-year term comes to an end on May 23.
In 2002, Warsh is married to Jane Lauder, granddaughter of Estée Lauder, the founder of the eponymous beauty company.
Jane Lauder, the former chief data officer and executive vice president of enterprise marketing at the Estée Lauder Cos., turned to investing in 2024, launching TAW Ventures.
The fund, which specializes in pet health, wellness and longevity, revealed a new partnership earlier this month.
TAW Ventures has linked with Leap Venture Studio, a pet care incubator, joining the cofounding parties Mars Inc. and animal welfare organization Michelson Found Animals. The studio has also opened applications for its 12-week accelerator program, to which TAW Ventures and Mars will contribute $200,000 to chosen participants.
