Trump swears in Kevin Warsh as new Federal Reserve chair, replacing Jerome Powell
Warsh vowed to keep the central bank focused on inflation and jobs as Trump pressed for lower rates and called him fully independent.
- 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.
162 Articles
162 Articles
Trump says Kevin Warsh will be ‘totally independent’ as he’s sworn in as Fed chair • Rhode Island Current
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…
Michigan Advance
alabamareflector.comTrump 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…
Kevin Warsh sworn in as Fed chair at White House ceremony
President Donald Trump on Friday oversaw the White House swearing-in of the new Federal Reserve chair and said he would like Kevin Warsh’s help in stimulating the economy even as he tried to emphasize that the nation’s central bank would remain independent. Trump spent months criticizing Warsh’s predecessor, Jerome Powell, for being reluctant to cut interest rates, with the Republican president arguing that lower borrowing costs would provide an…
With Trump Watching, Warsh Becomes Fed Chair
President Trump on Friday oversaw the White House swearing-in of the new Federal Reserve chair and said he would like Kevin Warsh's help in stimulating the economy even as he stressed that the nation's central bank would remain independent. Trump spent months criticizing Warsh's predecessor, Jerome Powell, for being reluctant...
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