President Donald Trump swore in Kevin Warsh as the new chairman of the Federal Reserve during a ceremony at the White House on Friday morning.
The appointment marks a leadership transition at the central bank, placing the nation's monetary policy under a new head following the departure of Jerome Powell.
Warsh officially assumed the role after the Senate confirmed his nomination with a 54-45 vote [1]. The ceremony in Washington, D.C., served as the final step in the appointment process to ensure a formal transition of power at the institution.
This event is a departure from recent tradition regarding how the Federal Reserve's leadership is inaugurated. Warsh is the first new Fed chair to be sworn in at the White House since Alan Greenspan in 1987 [2].
The Federal Reserve operates as the central banking system of the U.S., managing interest rates, and supervising financial institutions to maintain economic stability. The transition occurs as the administration seeks to align the central bank's direction with its broader economic objectives.
President Trump attended the proceedings and administered the oath of office to Warsh. The event was broadcast live across multiple news platforms, highlighting the administration's focus on the appointment.
“President Donald Trump swore in Kevin Warsh as the new Chairman of the Federal Reserve”
The decision to hold the swearing-in ceremony at the White House suggests a more visible alignment between the executive branch and the Federal Reserve than has been seen in nearly four decades. By breaking the tradition established since 1987, the administration is signaling a shift in the perceived independence or the symbolic relationship between the presidency and the nation's most powerful economic institution.
