Kevin Warsh was sworn in as the 17th Chair of the Federal Reserve at the White House on Friday, May 17, 2024 [1, 2].
The appointment marks a significant transition in U.S. monetary policy leadership. By replacing Jerome Powell, Warsh takes control of the nation's central bank following a confirmation process that highlighted deep political divisions in Washington.
President Donald Trump presided over the ceremony in Washington, D.C. [1, 2]. Some reports indicate that Justice Clarence Thomas also participated in the swearing-in process, though other accounts attribute the oath solely to the president [2, 3].
Warsh assumed the role shortly after his Senate confirmation on May 13, 2024 [1]. The confirmation vote was described as largely party-line [4].
During the proceedings, President Trump addressed the relationship between the executive branch and the central bank. "I want the Fed to be totally independent," Trump said [2].
The location of the ceremony drew attention from observers. A reporter from PBS NewsHour said it is unusual for the chief of the Fed to be sworn in at the White House, noting that Alan Greenspan was the last central bank chief to do so [4].
Warsh now leads the institution responsible for managing inflation and employment in the U.S. economy. His tenure begins at a time of heightened scrutiny regarding the Federal Reserve's autonomy and its interaction with the White House.
“"I want the Fed to be totally independent."”
The installation of Kevin Warsh at the White House, rather than the Federal Reserve headquarters, symbolizes a departure from modern tradition. While the president publicly affirmed the bank's independence, the party-line nature of the confirmation and the venue of the oath suggest a closer alignment between the Fed's leadership and the current administration than has been seen in recent decades.
