Trump to Swear in Warsh at White House, Markets Watch: Will He Heed President's Call for Rate Cuts?

marsbitPublished on 2026-05-19Last updated on 2026-05-19

Abstract

According to a White House official, President Trump will personally preside over the swearing-in ceremony for incoming Federal Reserve Chair Kevin Warsh at the White House on Friday. Warsh, set to become the 17th Fed chair and its wealthiest ever, succeeds Jerome Powell. The White House ceremony underscores Trump's high level of personal interest in this appointment, contrasting with Powell's 2018 internal Fed swearing-in, which Trump did not attend. This marks the first White House Fed chair oath-taking since Alan Greenspan in 1987. The ceremony concludes an unusually prolonged transition at the central bank. Powell, whose term ended last weekend, has remained as acting chair pending Warsh's Senate confirmation and will stay on the Fed Board for an unspecified period. Warsh assumes leadership at a complex time, with the U.S.-Israel war on Iran exacerbating inflationary pressures and complicating the policy outlook. Critics have raised concerns about his independence from the White House. While Trump has expressed expectations for near-term rate cuts, Warsh pledged independence during his confirmation hearings but also sharply criticized the Fed's recent performance.

Source: Jinshi Data

A White House official revealed that U.S. President Donald Trump will personally preside over the swearing-in ceremony for incoming Federal Reserve Chairman Kevin Warsh at the White House on Friday. Warsh will become the 17th chairman of the Federal Reserve, succeeding Jerome Powell, and also the wealthiest Fed chairman in history.

This ceremony at the White House highlights Trump's high level of personal attention to this appointment. In contrast, when Trump nominated Powell to lead the Fed during his first term in 2018, Powell was sworn in at the Federal Reserve itself, and Trump did not attend.

The last newly appointed Fed chairman to be sworn in at the White House was Alan Greenspan in 1987. In recent years, the swearing-in ceremonies for Fed chairs have been held internally at the Federal Reserve.

The last president to attend such a ceremony was George W. Bush, who participated in Ben Bernanke's swearing-in in 2006, when Bernanke was formerly the chairman of the White House Council of Economic Advisers. Later that same year, Warsh was sworn in as a Federal Reserve governor by then-Vice President Dick Cheney at the Eisenhower Executive Office Building.

Friday's ceremony will mark the end of an unusually long transition period for the Federal Reserve's leadership. The Fed stated last week that Powell would remain acting chairman until Warsh, whose four-year term was confirmed by the Senate last week, completed the swearing-in.

Powell's four-year term as Fed chairman expired last weekend. Powell has indicated that he plans to continue serving on the Federal Reserve Board of Governors for some time, but did not specify the duration. His term as a governor lasts until January 2028.

A delay of several days between confirmation and swearing-in is not uncommon. Warsh had previously agreed to divest certain personal investments before taking office.

Warsh will take the helm of the Fed at a complex juncture. The U.S.-Israel war against Iran has exacerbated inflationary pressures, complicating the Fed's policy outlook, while Warsh's critics worry about whether he can remain sufficiently independent from the White House.

Trump has stated that he expects Walsh to cut interest rates in the near term. During his Senate confirmation hearing, Warsh pledged to act independently but also harshly criticized the central bank's performance in recent years.

As the transition continues, Federal Reserve Vice Chair Philip Jefferson will represent the central bank at the G7 finance ministers and central bank governors meeting in Paris on Monday.

Related Questions

QWho is Kevin Warsh and what position is he assuming?

AKevin Warsh is the incoming Chair of the U.S. Federal Reserve, succeeding Jerome Powell. He will become the 17th Chair of the Federal Reserve.

QHow does President Trump's involvement in Kevin Warsh's inauguration differ from his involvement in Jerome Powell's?

APresident Trump will personally administer the oath of office to Kevin Warsh at the White House, whereas Jerome Powell was sworn in internally at the Fed during Trump's first term, with Trump not attending.

QWhy is there increased market focus on whether Kevin Warsh will lower interest rates?

AThe market is focused because President Trump has stated he expects Warsh to cut rates soon, leading to questions about Warsh's independence from the White House in setting monetary policy.

QWhat is the significance of Kevin Warsh being sworn in at the White House, and when did this last happen for a Fed Chair?

AA White House swearing-in ceremony for a new Fed Chair is rare and underscores the President's personal focus on the appointment. The last time this happened was in 1987 for Alan Greenspan.

QWhat complex economic conditions will Kevin Warsh face upon taking office?

AKevin Warsh will take office at a complex time characterized by heightened inflation pressures due to the U.S.-Israel war with Iran, which complicates the Fed's policy outlook.

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