Warsh to be sworn in as Fed chair at White House on Friday, official says

WASHINGTON - U.S. President Donald Trump on Friday will swear in Kevin Warsh as the next chairman of the U.S. Federal Reserve, a White House official said on Monday.

The U.S. Senate on Wednesday approved Kevin Warsh as chair of the Federal Reserve, putting the 56-year-old lawyer and financier at the helm as the U.S. central bank grapples with intensifying inflation that may make it hard to push through the interest-rate cuts that President Donald Trump has demanded.

Warsh, Trump's pick for Fed chair, presumably brings a fresh start in relations between the Oval Office and the central bank after eight years of friction with the White House, a global pandemic, and the fight with high inflation.

Warsh will take the leadership baton from Fed Chair Jerome Powell.

Fox Business first reported the timing for the swearing-in ceremony, which will take place at the White House.

(Reporting by Steve Holland, Jasper Ward and Daphne Psaledakis in Washington; editing by Michelle Nichols )

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This story was originally published May 18, 2026 at 11:59 AM.