Kevin Warsh to be sworn in as Federal Reserve chair on Friday
President Donald Trump is set to swear in Kevin Warsh as the new chairman of the Federal Reserve in a ceremony scheduled for Friday, according to a White House official. This marks the culmination of a process that began in the summer of 2025 and was finalized last week with the Senate confirming Warsh in a mostly party-line vote.
Warsh, 56, will be taking over from Jerome Powell, whose term officially expired on Friday. Powell will continue to serve on a pro-tempore basis until Warsh assumes his new role. As the 11th chair in the modern era, Warsh will also be the wealthiest person to ever hold the position, based on financial disclosures he submitted prior to his confirmation. He will need to divest himself of many of his investments to comply with the strict regulations for Fed officials.
The ceremony holds added significance as Trump nominated Warsh with the expectation that the Federal Reserve will resume lowering interest rates, as it did three times in 2025 under Powell’s leadership. However, market analysts anticipate that the current levels of inflation and a stable labor market may deter further easing until there is clear evidence that the pace of price increases is moving towards the Fed’s 2% target. Powell oversaw a period where the Fed consistently fell short of this goal for over five years.
The transition to Warsh’s leadership comes at a critical time for the Federal Reserve, as it navigates economic uncertainties and strives to maintain stability in the financial markets. The new chairman will play a key role in shaping monetary policy and guiding the central bank through a challenging economic landscape.
As Warsh assumes his new role, all eyes will be on how he steers the Federal Reserve in the coming months and years. His leadership will be closely scrutinized as he works to uphold the institution’s mandate of promoting maximum employment, stable prices, and moderate long-term interest rates. With his wealth of experience in finance and economics, Warsh is poised to make a significant impact on the direction of the Federal Reserve under the Trump administration.
