Warsh is sworn in as the Fed chair after Trump’s bid for greater control over the independent bank
Summary
President Donald Trump held the swearing-in ceremony of Kevin Warsh as the new Federal Reserve chair at the White House. Trump expressed his hope that Warsh would help stimulate the economy while saying the Federal Reserve would stay independent.Key Facts
- Kevin Warsh was sworn in as the Federal Reserve chair on May 22, 2026.
- The ceremony took place in the East Room of the White House, not at the Federal Reserve.
- Supreme Court Justice Clarence Thomas administered the oath.
- President Trump criticized the previous Fed chair, Jerome Powell, for not lowering interest rates.
- Trump wants lower interest rates to boost the economy.
- Warsh’s confirmation followed a period of economic concerns caused by the war with Iran, which raised gas prices and inflation worries.
- Trump said Warsh understands the benefits of a strong economy and hopes the economy will continue to grow.
- The presence of high-profile officials like House Speaker Mike Johnson and Justice Brett Kavanaugh was noted during the event.
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