Kevin Warsh Takes Fed Chair Oath as FOMC Gives Unanimous Backing
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Kevin Warsh took the Federal Reserve oath after Senate confirmation, succeeding Jerome Powell as chair.
Key facts
Kevin Warsh took the oath of office as chairman and a member of the Federal Reserve Board on May 22, completing the transition from Jerome Powell, whose chair term concluded on May 15
His term as chairman runs through May 21, 2030, while his Board term extends through January 31, 2040
President Donald Trump nominated Warsh on March 4, and the Federal Open Market Committee (FOMC) selected him as its chairman on May 22, placing him at the head of the central bank’s rate-setting panel
Warsh previously served as a Federal Reserve governor from February 2006 until March 2011, a period that included the global financial crisis
Summary
Warsh officially became Fed chair after Powell’s transition and unanimous FOMC leadership selection. Senate confirmations secured Warsh’s chair term through 2030 and Board service through 2040. Crypto markets may track his bitcoin remarks linking BTC with monetary credibility and gold. Kevin Warsh took the oath of office as chairman and a member of the Federal Reserve Board on May 22, completing the transition from Jerome Powell, whose chair term concluded on May 15.