Trump swears in Kevin Warsh as new Federal Reserve chair, replacing Jerome Powell
Warsh vowed to keep the Fed independent as economists warned inflation is rising and policymakers debated whether rates should stay higher.
- On Friday, Supreme Court Justice Clarence Thomas swore in Kevin Warsh as the 17th Federal Reserve Chair during a White House ceremony, succeeding Jerome Powell.
- The White House ceremony marks the first such event since Republican President Ronald Reagan swore in Alan Greenspan in 1987. President Donald Trump, who exerted pressure on Powell to reduce rates, insisted Warsh remain "totally independent."
- Warsh faces inflation above the Fed's 2% target for more than five years, worsened by the Iran war pushing energy prices higher. He promised a "reform-oriented" approach, including a "regime change" to reduce the Fed's balance sheet, currently about $6.7 trillion.
- White House economic advisor Kevin Hassett said he hoped Powell would soon "step aside," even as the former chair plans to remain on the board. Critics worry the Fed may struggle to set rates free from political pressure.
- Warsh insisted at his confirmation hearing that he would "absolutely not" be a puppet for Trump. The president urged him to let the economy "boom," expressing faith that Warsh would prioritize growth while managing inflation.
283 Articles
283 Articles
Warsh takes Fed's helm as inflation climbs, consumer sentiment dives
WASHINGTON — Kevin Warsh was sworn in as chair of the Federal Reserve on May 22 at a pivotal moment for an economy where surging gasoline prices due to the Iran war are pushing up inflation and eroding consumer sentiment,…
The new president of the American central bank, Warsh, has been sworn in.
Sydney Morning Herald
‘Let it boom’: Trump finally gets his Fed pick, with uncharacteristic fanfare
Kevin Warsh is a Harvard-educated lawyer and former investment banker who has served on the Federal Reserve’s board before. But with higher inflation, rising consumer anxiety and rate expectations, will he be a hawk or a hack?
Colorado Newsline
Trump says Kevin Warsh will be ‘totally independent’ as he’s sworn in as Fed chair
Kevin Warsh, left, takes the oath of office from U.S. Supreme Court Associate Justice Clarence Thomas, right, as Warsh's wife Jane Lauder looks on during his swearing-in ceremony to be the new chairman of the Federal Reserve in the East Room of the White House on May 22, 2026 in Washington, D.C. (Photo by Anna Moneymaker/Getty Images)WASHINGTON — Kevin Warsh assumed his new role as chair of the Federal Reserve Friday after a swearing-in ceremon…
Washington, United States. The new president of the Federal Reserve (Fed), Kevin Warsh, offered a “reformist” orientation by swearing the office in a solemn act at the White House on Friday. President Donald Trump promised at the ceremony that the head of the central bank would be “totally independent,” although he slipped that he hoped that the fight against inflation, the Fed’s primary goal, would not be to the detriment of the country’s econo…
Coverage Details
Bias Distribution
- 41% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
