Trump Swears In 56-Year-Old Kevin Warsh as Fed Chair After 54-45 Senate Confirmation
Updated
Updated · CNBC · May 18
Trump Swears In 56-Year-Old Kevin Warsh as Fed Chair After 54-45 Senate Confirmation
12 articles · Updated · CNBC · May 18
Friday’s White House ceremony installs Kevin Warsh as Federal Reserve chair, replacing Jerome Powell, whose term expired but who stayed on temporarily until the handover.
Warsh, 56, takes over after a confirmation process that began in summer 2025 and ended last week with a near party-line 54-45 Senate vote.
Trump chose Warsh expecting the post-Powell Fed to resume rate cuts after three reductions in 2025, making the White House-hosted swearing-in a pointed signal.
Markets still see elevated inflation and a stable labor market delaying further easing until price growth moves convincingly back toward the Fed’s 2% target.
Warsh also becomes the wealthiest modern-era Fed chair and must divest much of his portfolio under stricter ethics rules for central bank officials.
With Jerome Powell remaining on the board, will the new Fed chair face an internal battle over his 'regime change' agenda?
Amid a global oil shock, can the new Fed chair's plan to shrink the central bank's role succeed without causing a recession?
As the Fed plans to communicate less with markets, what does this new era of uncertainty mean for investors and the economy?