Warsh to be sworn in as Fed chair at White House on Friday
Kevin Warsh will be sworn in as the new U.S. Federal Reserve Chair on Friday by President Donald Trump. He succeeds Jerome Powell, who will remain on the Board of Governors until a criminal probe against him concludes. Warsh faces the challenge of managing rising inflation and forming a consensus among Fed policymakers regarding interest rate policy.
- ▪Kevin Warsh is set to be sworn in as U.S. Federal Reserve Chair on Friday.
- ▪He succeeds Jerome Powell, whose term expired but will remain on the Board of Governors until a probe concludes.
- ▪Warsh's confirmation was delayed due to an investigation into Powell, which has since been resolved.
Opening excerpt (first ~120 words) tap to expand
Kevin Warsh, nominee for US Federal Reserve Chair, testifies during a Senate Banking Committee hearing on his nomination on Capitol Hill in Washington, DC, on Apr. 21. AFP-YonhapWASHINGTON — Kevin Warsh will be sworn in as U.S. Federal Reserve chief on Friday by President Donald Trump, a White House official said on Monday, capping off the process of installing the 56-year-old lawyer and financier at the helm of the central bank as it grapples with intensifying inflation that may make it hard to push through the interest-rate cuts Trump so deeply desires.Warsh is succeeding Jerome Powell, whose eight-year run as Fed leader formally expired on Friday, although he plans to remain as a Board of Governors member until he is satisfied that a Trump administration criminal probe of him is fully…
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