President Trump swore in Kevin Warsh as the Federal Reserve's new chair at a White House ceremony Friday, following a 54-45 Senate confirmation vote earlier this month. Warsh steps into the role as the Fed faces internal divisions over potential interest-rate cuts amid a volatile jobs market and persistent inflation. Jerome Powell will remain on the Fed's board until his term for that seat ends in January 2028.
Kevin Warsh Sworn In as Federal Reserve Chair After 54-45 Senate Vote
President Trump administered the oath of office to Kevin Warsh during a White House ceremony Friday morning, officially installing him as the new chair of the Federal Reserve.
New Leadership, Immediate Challenges
The Senate confirmed Warsh earlier this month in a 54-45 vote to succeed outgoing Fed Chair Jerome Powell. Warsh now assumes leadership of the nation’s central bank at a delicate moment: governors are divided over whether to cut interest rates as the labor market shows volatility and inflation remains elevated.
Jerome Powell — who frequently differed with the administration on interest-rate policy — will remain on the Fed’s Board of Governors until his current seat term expires in January 2028.
What To Watch
- Rate Policy: Watch for signals from Warsh and the Fed about the timing and scale of any rate cuts amid mixed economic indicators.
- Board Dynamics: A divided board could complicate consensus-driven policy decisions in the months ahead.
- Market Reaction: Investors and analysts will be closely monitoring Fed communications for clues on inflation and employment outlooks.
The ceremony was scheduled to begin at 11 a.m. EDT. A video replay of the event is available above.
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