Watch: Trump will swear in Kevin Warsh as Fed chair as he seeks interest rate cuts
President Donald Trump will swear in Kevin Warsh as the new chair of the Federal Reserve, succeeding Jerome Powell. Warsh, who previously served as a Fed governor, has expressed intentions to reduce the central bank's influence on markets. His appointment comes amid ongoing economic challenges and Trump's demands for more aggressive interest rate cuts.
- ▪Kevin Warsh will be sworn in as the 11th chair of the Federal Reserve.
- ▪He succeeds Jerome Powell, who faced criticism from Trump for not lowering interest rates quickly enough.
- ▪Warsh aims to control inflation while also reducing benchmark rates.
Opening excerpt (first ~120 words) tap to expand
President Donald Trump will swear in Kevin Warsh as chair of the Federal Reserve on Friday, putting him in charge of a central bank that must navigate a tumultuous economy and a president with very specific expectations on interest rates.Warsh, 56, will become the 11th Fed chair of the modern banking era and succeeds Jerome Powell, who served eight years. Powell, a major target of Trump's ire over his refusal to lower rates as quickly or steeply as the president desired, will continue to serve at the Fed as a governor. He is the first Fed chair to make such a move in nearly 80 years.Friday's swearing-in marks Warsh's second stint at the Fed.
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