Kevin Warsh Takes Fed Chair Oath as FOMC Gives Unanimous Backing
Tech Kevin Warsh Takes Fed Chair Oath as FOMC Gives Unanimous Backing Kevin Warsh took the oath of office as chairman and a member of the Federal Reserve Board on May 22, completing the transition from Jerome Powell, whose chair term concluded on May 15. The Federal Reserve Board named Powell chair pro tempore pending Warsh‘s swearing-in. President Donald Trump nominated Warsh on March 4, and the Federal Open Market Committee (FOMC) selected him as its chairman on May 22, placing him at the head of the central bank’s rate-setting panel. Warsh was confirmed by the United States Senate as a Board member on May 12. Senators confirmed him as chairman on May 13. His term as chairman runs through May 21, 2030, while his Board term extends through January 31, 2040. The Federal Reserve announced: “Kevin Warsh on Friday took the oath of office as chairman and a member of the Board of Governors of the Federal Reserve System.” “Also on Friday, the Federal Open Market Committee unanimously selected Warsh as its chairman,” the Fed said. He now leads the Federal Open Market Committee, the Federal Reserve panel responsible for setting benchmark U.S. interest rates and directing monetary policy operations. The role places him at