Kevin Warsh officially became the 17th chair of the Federal Reserve on May 22, 2026, sworn in during a White House ceremony led by Supreme Court Justice Clarence Thomas. It was the first time a Fed chair has taken the oath at the White House since Alan Greenspan did so back in 1987.
Warsh succeeds Jerome Powell, who held the position since February 2018 and navigated the institution through a pandemic, an inflation crisis, and a historic rate-hiking cycle.
A narrow confirmation and a long list of problems
The Senate confirmed Warsh on May 13, 2026, with a 54-45 party-line vote. Former President Donald Trump nominated Warsh back in January.
Warsh inherits a genuinely difficult economic environment. Rising inflation is being fueled by a confluence of forces: the ongoing Iran war, escalating tariffs, and gasoline prices that have sent consumer sentiment plummeting to record lows.
