Updated May 22, 2026, 7:25 AM EDT By NBC News What to know todayNEW FED CHAIR: President Donald Trump will participate in the swearing-in ceremony for incoming Federal Reserve Chairman Kevin Warsh this morning. Warsh succeeds outgoing Chair Jerome Powell, a frequent target of the president over his refusals to quickly lower interest rates.WAR POWERS PUNT: House Republicans delayed a vote yesterday on a war powers resolution that would restrict Trump’s ability to continue U.S. military operations in Iran after it became clear that the legislation would pass. The House then adjourned for a weeklong Memorial Day recess.ICE FUNDS ICED: Senate Republican leaders also punted a vote yesterday on a GOP package to fund ICE and the Border Patrol until June because of objections to the Trump administration’s controversial “anti-weaponization” fund, two GOP sources familiar with the discussions said. Like the House, the Senate will return on June 1. 39m ago / 7:25 AM EDTSenate Republicans cancel votes amid fight over Trump’s ‘anti-weaponization’ fund Objections to the Trump administration’s controversial “anti-weaponization” fund prompted Senate Republican leaders yesterday to punt a vote on a GOP package to fund ICE and the Border Patrol until June, two GOP sources familiar with the discussions told NBC News.Senate Majority Leader John Thune, R-S.D., had aimed to get the reconciliation package through the Senate and on to the House before the Memorial Day holiday. But GOP senators emerged from a closed-door briefing with top Justice Department officials about the fund with more questions than answers, and it became clear that Republicans did not have consensus on moving forward.Read the full story here.39m ago / 7:25 AM EDTHouse Republicans pull Iran war powers resolution from floor voteHouse Republicans yesterday delayed a vote on a war powers resolution that would restrict Trump's ability to continue U.S. military operations in Iran after it became clear that the legislation would pass.Lawmakers will have to vote on the resolution in June, however, after they return from their Memorial Day recess.Congressional support for the U.S.-Israeli war with Iran, which Trump launched on Feb. 28 without lawmakers’ approval, has been slipping even among Republicans as the conflict disrupts global energy supplies and sends U.S. gas prices soaring.Read the full story here.39m ago / 7:25 AM EDTTrump to swear in Kevin Warsh as Federal Reserve chairmanTrump will participate in the swearing-in ceremony for incoming Federal Reserve Chairman Kevin Warsh this morning. Warsh succeeds outgoing Chairman Jerome Powell, a frequent target of the president over his refusals to quickly lower interest rates.The president will then head to New York to campaign for Rep. Mike Lawler, whose swing district is a top target for Democrats in the upcoming midterm elections. 0NBC NewsNBC News