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Kevin Warsh has been sworn in by the United States Supreme Court Justice Clarence Thomas to replace Jerome Powell as head of the Federal Reserve.
Warsh was sworn in as the leader of the US Federal Reserve, America’s central bank, at the White House on Friday.
Kevin Warsh has been officially sworn in as Chairman of the Federal Reserve by Justice Clarence Thomas at the White House. 🇺🇸 pic.twitter.com/Mf85s2YSYz
— The White House (@WhiteHouse) May 22, 2026
“I intend to fill the role of chairman with energy and purpose,” Warsh said.
“I am grateful. I recognise, as the president said, that ours is a time of great consequence,” Warsh said moments after being sworn in.
Credit: Reuters
Jerome Powell, Warsh’s predecessor, will remain on the board of the US Federal Reserve. During his tenure, Powell was a frequent target of President Donald Trump’s criticism and faced pressure to lower interest rates before inflation returned to the Fed’s 2% target.
His ability to steer the Fed independently of the White House came under intense scrutiny.
Warsh and Trump acknowledged the longstanding expectation that the Fed remain politically independent on Friday.
“Our mandate at the Fed is to promote price stability and maximum employment. When we pursue those aims with wisdom and clarity, independence and resolve, inflation can be lower, growth stronger, real take-home pay higher, and America can be more prosperous,” Warsh said.
The US Senate confirmed Warsh as chairman on May 13 in a 54-45 vote, with one Democrat, John Fetterman of Pennsylvania, joining all Republicans to approve Trump’s nominee as head of the central bank after more than a year of pressure from the White House for lower interest rates.
