WASHINGTON, D.C. – May 22, 2026 – Kevin Warsh was officially sworn in today as the 17th Chairman of the Federal Reserve, marking a significant leadership change at the U.S. central bank.
Supreme Court Justice Clarence Thomas administered the oath of office in a rare White House ceremony hosted by President Donald Trump. Warsh’s wife held the Bible during the swearing-in.
President Trump praised the new chairman, stating he expects Warsh to be “totally independent” while doing “a great job.” Trump predicted that Warsh would go down as one of the truly great Fed chairs.
In his remarks following the oath, Warsh described the role as the “honor of a lifetime” and pledged to lead a “reform-oriented Federal Reserve” focused on its dual mandate of price stability and maximum employment.
Background and Confirmation
Warsh, 56, previously served as a Federal Reserve Governor from 2006 to 2011. He also worked as an executive at Morgan Stanley and as a special assistant to President George W. Bush on economic policy.
President Trump nominated him earlier this year to succeed Jerome Powell, whose term as chairman ended on May 15. The Senate confirmed Warsh on May 13 in a narrow 54-45 party-line vote, with one Democrat, Sen. John Fetterman of Pennsylvania, crossing the aisle in support.
Warsh becomes the first Fed chair sworn in at the White House since Alan Greenspan in 1987.
Economic Context
The appointment comes amid ongoing inflation concerns, strong market performance, and expectations for potential interest rate adjustments. Markets reacted positively today, with the Dow Jones Industrial Average surging more than 600 points to record highs following the news.
Warsh has a reputation as a pro-growth economist with experience navigating financial crises. Observers note his past support for innovation-friendly policies, including in fintech and digital assets.
As he begins his four-year term, Warsh will face the challenge of balancing monetary policy independence with the demands of a dynamic economy.
Life News Agency will continue to monitor developments from the Federal Reserve under Chairman Warsh’s leadership.
About The Author
