President Donald Trump swore in Kevin Warsh as the new Chairman of the Federal Reserve Board of Governors on Friday [1].

The appointment marks a significant shift in the leadership of the U.S. central bank as Warsh replaces Jerome Powell. This change in leadership occurs as the administration seeks to influence the direction of national monetary policy and the timing of interest-rate adjustments.

The swearing-in ceremony took place Friday morning, May 22, 2026 [2], at the White House in Washington, D.C. [3]. The event was notable for its location, as the last Federal Reserve chair to be sworn in at the White House was Alan Greenspan in 1987 [4].

President Trump said he wants an independent Federal Reserve under his hand-picked chair [5]. He also said that he is seeking interest-rate cuts [5]. The transition comes at a time of high scrutiny regarding the relationship between the executive branch and the central bank's autonomy.

Warsh takes over the role during a period of economic transition. The administration's focus on rate reductions suggests a move toward more accommodative monetary policy to stimulate growth. This approach contrasts with the previous tenure of Jerome Powell, who focused on balancing inflation and employment through different mechanisms.

The ceremony was broadcast live, highlighting the administration's intent to signal a new era for the Federal Reserve. By hosting the event at the White House, the administration emphasized the visibility of the appointment, a departure from the more private transitions of recent decades.

“President Trump swore in Kevin Warsh as the new Chairman of the Federal Reserve Board of Governors.”

The appointment of Kevin Warsh and the decision to hold the ceremony at the White House signal a desire for closer alignment between the presidency and the Federal Reserve. While the administration speaks of independence, the explicit call for interest-rate cuts suggests a policy shift toward easing monetary constraints to support economic expansion.