NewsNBC Miami PoliticsMay 22, 2026United States
Kevin Warsh Sworn In as Federal Reserve Chair Amid Economic Uncertainty
Kevin Warsh has been sworn in as the new chair of the Federal Reserve following a narrow Senate confirmation. His leadership begins during a period of rising inflation and economic pressure, complicating President Trump's stated goal of lowering interest rates.
Read the full story at NBC Miami PoliticsWhy It Matters
The Federal Reserve's decisions on interest rates directly influence the cost of borrowing for mortgages, credit cards, and business loans for all Americans.
Key Facts
- Kevin Warsh was sworn in as Federal Reserve Chair on Friday, May 13.
- The Senate confirmed Warsh in a 54-45 vote, with Senator John Fetterman being the only Democrat to vote in favor.
- Inflation has reached 3.8% and gasoline prices have increased by more than 50% since mid-February.
- Fed Governor Christopher Waller stated that rate hikes can no longer be ruled out if inflation does not decrease.
- Warsh has pledged to lead a 'reform-oriented' Federal Reserve, including changes to communication, balance sheet management, and forecasting models.
- The Federal Open Market Committee is scheduled to meet in three weeks to debate interest rate policy.
- A Supreme Court case is pending regarding President Trump's attempt to fire Governor Lisa Cook.
- The last Fed chair sworn in at the White House was Alan Greenspan in 1987.