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 after Jerome Powell’s chair term ended May 15. The Federal Reserve Board named Powell chair pro tempore until Warsh’s swearing-in. President Donald Trump nominated Warsh on March 4, the Senate confirmed him as a Board member on May 12, and senators confirmed him as chairman on May 13. The Federal Open Market Committee unanimously selected Warsh as its chairman on May 22, placing him at the head of the rate-setting panel. Warsh’s chair term runs through May 21, 2030, and his Board term extends through January 31, 2040. Warsh previously served as a Fed governor from 2006 to 2011 and has made remarks linking bitcoin to monetary credibility and gold.

"Warsh previously served as a Federal Reserve governor from February 2006 until March 2011, a period that included the global financial crisis. He studied public policy, economics, and statistics at Stanford University, then earned a law degree from Harvard Law School. His career also included work at Morgan Stanley and in federal economic policy circles before his earlier Fed service."

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