Kevin Warsh was sworn in as the 17th chair of the Federal Reserve during a White House ceremony on Friday [1].
The leadership change at the U.S. central bank comes as the administration seeks a balance between aggressive economic stimulation and the traditional independence of monetary policy.
President Donald Trump administered the oath to Warsh on May 22, 2026 [2]. The appointment follows a Senate confirmation vote that took place on May 13, 2026 [3], which the dossier describes as a largely party-line decision [4]. Warsh succeeds Jerome Powell in the role [5].
During the ceremony, Trump expressed a desire for the new chair to support growth. "I would like Kevin's help in stimulating the economy," Trump said [6]. However, the president also emphasized that the central bank should remain autonomous from executive pressure. "I want him to be totally independent," Trump said [7].
Warsh addressed lawmakers after taking the oath to clarify his approach to monetary policy. He signaled that he would not allow political influence to dictate the cost of borrowing. "I will never predetermine interest rates," Warsh said [8].
Warsh enters the position as the 17th person to lead the Federal Reserve [1]. His tenure begins at a time when the administration is prioritizing economic expansion, while pledging to maintain the institutional boundaries that separate the White House from the Fed's decision-making process.
“"I want him to be totally independent," Trump said.”
The appointment of Kevin Warsh represents a pivotal shift in the Federal Reserve's leadership. By selecting a chair who is aligned with the administration's goal of economic stimulation but who publicly commits to independence, the White House is attempting to navigate the tension between executive policy goals and the market's requirement for a non-political central bank. The focus on not predetermining interest rates is a direct response to concerns regarding political interference in monetary policy.
