Warsh, 56, became the 17th chair of the Federal Reserve after Senate confirmation on May 13 with a 54-45 vote.
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Kevin Warsh was sworn in Saturday as the new chair of the Federal Reserve at the White House in the presence of President Donald Trump, becoming the 17th chair of the board of governors of the central bank.
The 56-year-old economist and lawyer, educated at Stanford and Harvard, took the oath of office at a ceremony that marked the first Federal Reserve chair swearing-in at the White House since Alan Greenspan's in 1987. Warsh succeeds Jerome Powell, who led the institution for the past eight years during the pandemic, record inflation, and geopolitical tensions.
Warsh was nominated by Trump in January and confirmed by the Senate on May 13 with a vote of 54 to 45. At Saturday's ceremony, Trump said he wanted Warsh "to be totally independent."
Warsh previously served as a Federal Reserve governor from 2006 to 2011, a period that included the global financial crisis. His appointment marks a transition in leadership at the central bank as it continues to navigate economic conditions following years of elevated inflation and pandemic-related disruptions.
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