Kevin Warsh sworn in as new US Fed chair

Warsh will lead the central bank at a time when its independence has come under scrutiny amid political pressure.Kevin Warsh has been sworn in as the new chair of the United States Federal Reserve Board of Governors, succeeding Jerome Powell, who has held the position since 2018.Warsh took the oath of office on Friday, following a contentious nomination period, with the Senate voting along party lines on both his confirmation to the Board of Governors and as chairman. Only Pennsylvania Senator John Fetterman broke with his Democratic colleagues to advance his nomination.Recommended Stories list of 4 itemslist 1 of 4French court finds Airbus, Air France guilty of manslaughter in 2009 crashlist 2 of 4Is the West de-risking from China or containing its economy?list 3 of 4Fans create AI-generated team songs ahead of World Cuplist 4 of 4NYC launches lottery for $50 World Cup football ticketsend of listWarsh, 56, will lead the central bank at a time when its independence has come under scrutiny amid political pressure on the historically non-partisan institution.US President Donald Trump, aware of that critique, in his opening remarks said, “I want Kevin to be totally independent and do a great job. Don’t look at me and don’t look at anybody. Just do your own job”.During his confirmation hearing before the Senate Banking Committee, ahead of a vote by the full Senate, Democratic Senator Elizabeth Warren accused Warsh of being a “sock puppet” for Trump. Warsh denied the allegations and said he would remain independent in his monetary policy decisions.When Joe Biden was president, Warsh advocated against cutting interest rates, but changed his tune when Trump took office. In December 2025, Trump said that he would only appoint someone to lead the central bank who agreed with him on cutting rates.Regardless, Warsh cannot unilaterally make policy decisions. He is one of 12 voting members.The first policy meeting Warsh will lead will be on June 16-17.