Kevin Warsh to Be Sworn In as Federal Reserve Chair at White House Ceremony

President Donald Trump is set to swear in Kevin Warsh as the new Chair of the Federal Reserve during a White House ceremony on Friday, according to a White House official. This event marks a departure from recent tradition, as swearing-in ceremonies have typically taken place at the Federal Reserve without presidential attendance.

Warsh, 56, was confirmed by the Senate last week in a 54-45 vote, largely along party lines. He succeeds Jerome Powell, whose term concluded on May 15. In the interim, Powell has been serving as Chair pro tempore until Warsh's official swearing-in.

Once sworn in, Warsh will become the 11th Chair in the modern era and the wealthiest individual to hold the position, based on his financial disclosures. He is expected to divest a significant portion of his investment portfolio to comply with stringent regulations for Federal Reserve officials.

Warsh's appointment comes at a time of elevated inflation and a stable labor market. While President Trump has advocated for lowering interest rates, market expectations suggest that current economic conditions may deter further easing until there is clear evidence that inflation is returning to the Federal Reserve's 2% target.