United States · Monetary Policy · Latin America
Key Facts
—Ceremony: President Donald Trump will personally administer the oath of office to Kevin Warsh as the 17th chair of the United States Federal Reserve in a White House ceremony Friday, ending the unusually long transition that began when Trump nominated Warsh in January and Powell’s term as chair expired on May 15.
—Confirmation: The Senate confirmed the Kevin Warsh Fed chair nomination on May 13 in a 54-45 vote, the most divisive in modern Federal Reserve history, with Pennsylvania Democrat John Fetterman the only senator crossing party lines to support him.
—Setting: Friday’s event breaks four decades of recent practice in which new Fed chairs were sworn in inside the Federal Reserve building; the last White House ceremony was Alan Greenspan in 1987, and the last presidential attendance was former President George Bush at Ben Bernanke’s installation in 2006.
