Kevin Warsh was sworn in as the Chair of the Federal Reserve on Friday, May 22, 2026 [2].
The appointment comes at a critical juncture for the U.S. economy, as the new chair must navigate high inflation and significant policy pressures while maintaining the central bank's independence.
Supreme Court Justice Clarence Thomas administered the oath of office during a ceremony held in the East Room of the White House [1, 3]. This location deviates from the traditional swearing-in process, which typically occurs at the Federal Reserve building [1, 3]. Warsh succeeds Jerome Powell as the 17th Federal Reserve Chairman [4].
President Donald Trump spoke during the event regarding the relationship between the executive branch and the central bank. "I want him to be totally independent," Trump said [5].
Warsh addressed the expectations regarding future monetary policy and the autonomy of the Fed. "I will never 'predetermine' ..." Warsh said [6].
The transition occurs amid a volatile economic climate where the Federal Reserve's decisions on interest rates remain a primary driver of global market stability. The move to install Warsh is intended to preserve the institution's operational independence while the U.S. continues to combat inflationary trends [7, 8].
“"I want him to be totally independent,"”
The decision to hold the swearing-in ceremony at the White House rather than the Federal Reserve building is a symbolic departure from tradition. While President Trump explicitly called for Warsh's independence, the visibility of the executive branch during the transition highlights the ongoing tension between political goals and the Fed's mandate to manage inflation and employment without interference.
