Kevin Warsh to Be Sworn in as Fed Chair on May 22

Multiple U.S. media outlets reported on May 18 that Kevin Warsh will be sworn in as chair of the Federal Reserve on May 22, 2024. President Trump will hold the swearing-in ceremony at the White House.

Senate Confirmation

The U.S. Senate confirmed Warsh on May 13 with a vote of 54 in favor and 45 opposed. Warsh will succeed Jerome Powell as the next Fed chair, with a four-year term. Powell's tenure as Fed chair ended on May 15, and he has assumed the role of interim Fed chair.

Nomination Timeline

Trump announced Warsh's nomination via social media on January 30. The White House submitted the nomination to the Senate in early March regarding Warsh's appointment as a Federal Reserve governor and as the next Fed chair.

Historical Context

Powell was nominated by Trump and took office as Fed chair in February 2018, succeeding Janet Yellen. Powell began his second term as Fed chair in May 2022 following his nomination by then-President Biden.