Kevin Warsh was officially sworn in as Fed Chair at the White House! Trump: Please maintain absolute independence.

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The "Powell era" of the Fed has officially come to an end! At 11:00 a.m. ET today (22nd), Kevin Warsh, confirmed by the Senate, was officially sworn in as the Chair of the Fed at the White House. In a ceremony presided over by the sitting President—the first of its kind in nearly 40 years—Trump not only praised Warsh as the best candidate but also made an unprecedented call for him to be "totally independent" and not to answer to anyone. Warsh pledged to be data-driven and fully committed to stabilizing prices and promoting the economy. (Previous coverage: Trump personally presides over the swearing-in ceremony of Fed Chair Warsh, the first time in 39 years led by the White House) (Background: Will Warsh taking over the Fed lead to rate cuts? Raoul Pal: He will tolerate inflation for AI productivity; cryptocurrencies and gold may be the biggest winners) The leadership baton of the Fed has officially completed a historic transition today. At 11:00 a.m. ET today (May 22, 2026), 56-year-old former Fed Governor Kevin Warsh was sworn in as the new Fed Chair at the White House, presided over by U.S. President Donald Trump. This broke decades of precedent—the last time a sitting president personally presided over a Fed Chair inauguration at the White House dates back to the Alan Greenspan era in 1987. Trump's support: No one is more suitable, tells him "don't look at me" At the swearing-in ceremony, Trump spoke highly of the new Chair, whom he personally nominated and who narrowly passed the Senate with a 54-45 vote on the 13th of this month. Trump even joked that the stock market surged 600 points because of Warsh's appointment, saying, "They (the market) love you!" Notably, Trump, who has often criticized the Fed's monetary policy in the past, made a rare and clear emphasis on the central bank's independence this time: "I want Kevin to be totally independent... Don't look at me, don't look at anybody. Just do your thing, and do it well." Warsh's low-key stance: Defending independence, focusing on fighting inflation Taking over from Jerome Powell, Warsh has become the top helmsman of the global financial market. His remarks at the ceremony maintained the brevity and low profile traditional of Fed officials. Beyond expressing his gratitude and honor to President Trump, Warsh did not offer any specific timeline for interest rate cuts or monetary policy. He focused his speech on the core mission of the central bank, emphasizing that he would strive to maintain the independence of the Fed and, with a professional and data-driven approach, focus on stabilizing prices (fighting inflation), promoting employment, and economic growth. Warsh served as a Fed Governor from 2006 to 2011 and personally experienced the crisis management of the 2008 financial tsunami. With the "Powell era" officially ending on May 15, global markets are holding their breath, waiting for Warsh's first official policy speech in the coming weeks to get a glimpse of the new Chair's approach to current inflationary pressures and the high-interest-rate environment.

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