WASHINGTON, May 18 – The White House will host a swearing-in ceremony this Friday for Kevin Warsh, who will officially become the new chairman of the Federal Reserve, according to a White House official who spoke on Monday.
Last Wednesday, the Senate confirmed Warsh’s nomination to lead the Federal Reserve, placing the 56-year-old attorney and financial expert in charge of the nation’s central bank during a challenging period of rising inflation that could complicate efforts to implement the interest rate reductions that President Donald Trump has called for.
The appointment of Warsh, who was selected by Trump for the position, is expected to mark a new chapter in the relationship between the White House and the Federal Reserve following eight years of tensions, challenges from a worldwide pandemic, and battles against elevated inflation rates.
Warsh will assume control from current Fed Chair Jerome Powell.
The timing of the White House ceremony was initially disclosed by Fox Business.
