The Senate confirmed Warsh last week in a largely party-line vote. A former top Fed official, Warsh will become chair at an unusually difficult time for the independent agency.

Kevin Warsh, a former Fed governor with Solana and Polymarket investments, will be sworn in as Federal Reserve Chair on May 22 after a 54-45 Senate vote.

Rate hikes now loom as a possibility for Warsh's Fed, a sharp turn from the rate-cut environment that defined Trump's search for a new chair

Warsh is replacing Jerome Powell as head of the central bank after the Senate confirmed the Trump appointee in a 54-45 vote last week.