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Trump swears in Kevin Warsh as new Federal Reserve chair, replacing Jerome Powell
- On Friday, Kevin Warsh was sworn in at the White House as Chairman of the Federal Reserve System, succeeding Jerome Powell in the four-year role amid significant economic uncertainty.
- Nominated by President Donald Trump in January, Warsh inherits an economy strained by the US-Israeli war with Iran, where the oil shock has pushed gasoline prices up and inflation surged to the highest level in three years.
- Warsh plans to refocus the Federal Reserve on its core mandate, limiting public communications regarding interest rates and distancing the institution from climate policy and DEI initiatives.
- Although Trump previously berated Powell for not lowering rates quickly enough, he told Warsh on Friday, "Just do your own thing and do a great job," emphasizing total independence.
- Policymakers have shifted from March's rate-cut projections to favoring steady rates amid geopolitical instability. Warsh faces his first Federal Open Market Committee meeting June 16–17.
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The ceremony at the White House did not include — at least not in the front rows — members of the cabinet that will work with the new president for the next 14 years.
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Kevin Warsh Swears, He's the New President of the Fed, Trump: "I Want You to Be Totally Independent"
Kevin Warsh officially the new president of the Federal Reserve after the oath just taken to the White House as the highest US central banker. The oath...
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Kevin Warsh Sworn In as Federal Reserve Chairman Amid Economic Uncertainty
President Donald Trump praised new Federal Reserve Chairman Kevin Warsh as a reform-minded leader focused on inflation, growth, and restoring confidence in the central bank ... The post Kevin Warsh Sworn In as Federal Reserve Chairman Amid Economic Uncertainty first appeared on [your]NEWS.
The inauguration ceremony was held at the White House, the first time in 40 years.
Coverage Details
Total News Sources67
Leaning Left17Leaning Right18Center20Last UpdatedBias Distribution36% Center
Bias Distribution
- 36% of the sources are Center
36% Center
L 31%
C 36%
R 33%
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