President Donald Trump presided over a White House ceremony on Friday, May 22, 2026 [1], to swear in Kevin Warsh as chairman of the Federal Reserve [1].
The appointment marks a significant shift in leadership for the U.S. central bank. Warsh replaces Jerome Powell, following a nomination by Trump to lead the institution responsible for national monetary policy [4].
Warsh becomes the 17th chair of the Federal Reserve [2]. The ceremony at the White House is a rare occurrence for the position; the last time a new Fed chair was sworn in at the White House was in 1987 for Alan Greenspan [3].
Trump's decision to nominate Warsh reflects a desire for a different approach to economic management than that of his predecessor. The transition comes as the administration seeks to align the central bank's objectives with broader executive goals [4].
Warsh previously served as a member of the Federal Reserve Board of Governors and has been a known figure in monetary policy circles for years. His formal swearing-in on May 22, 2026 [1], concludes the nomination process and grants him full authority over the Federal Open Market Committee.
The event was broadcast live, highlighting the administration's emphasis on the appointment. By hosting the event at the White House, the administration underscored the visibility of the role, breaking a decades-long tradition of more private transitions for the Fed chair [3].
“Kevin Warsh becomes the 17th chair of the Federal Reserve.”
The decision to hold the swearing-in ceremony at the White House deviates from the standard protocol of central bank independence. By mirroring the 1987 ceremony for Alan Greenspan, the administration is signaling a more direct relationship between the executive branch and the Federal Reserve, potentially altering how the market perceives the bank's autonomy from political influence.
