Kevin Warsh Sworn In as Federal Reserve Chairman

WASHINGTON — Kevin Warsh was sworn in Friday as the 17th Chairman of the Federal Reserve in a ceremony held at the White House East Room, administered by Supreme Court Justice Clarence Thomas.

President Donald Trump hosted the event and praised Warsh as “exceptionally qualified” to lead the central bank. Warsh’s wife, Jane Lauder, held the Bible during the oath. Several Cabinet members, Supreme Court Justice Brett Kavanaugh, and other officials attended.

Warsh, 56, previously served as a Fed governor from 2006 to 2011 under Presidents George W. Bush and Barack Obama. He was confirmed by the Senate last week on a largely party-line vote.

In brief remarks after taking the oath, Warsh pledged to focus on price stability while pursuing policies that support stronger economic growth and employment. He indicated he would seek a more collaborative relationship with the administration on non-monetary issues such as regulatory burden and long-term economic strategy, while maintaining the Fed’s formal independence on interest rate decisions.

Warsh is expected to pursue a faster reduction of the Fed’s balance sheet than his predecessor to help enable lower long-term interest rates. Markets anticipate a more growth-oriented stance overall, though the current federal funds rate remains at 3.50%–3.75%. The new chairman will preside over his first Federal Open Market Committee meeting in mid-June.

His leadership marks a notable shift at the Fed toward policies more aligned with the Trump administration’s priorities on domestic manufacturing, energy production, and reducing regulatory burdens. Warsh has been critical in the past of some pandemic-era Fed actions and has advocated for greater transparency and accountability at the central bank.

The transition comes as the Fed navigates elevated oil prices tied to the Iran conflict and the administration’s push for tax cuts and deregulation heading into the 2026 midterms. Jerome Powell is expected to remain on the Fed Board as a governor for the remainder of his term.