Kevin Warsh Appointed as Federal Reserve Chairman

Kevin Warsh has officially taken on the role of Chairman of the Board of Governors of the Federal Reserve System. This appointment came during a ceremony at the White House where he was sworn in by Supreme Court Justice Clarence Thomas.

Warsh is now the 17th chairman of the Federal Reserve, following a confirmation by the Senate on May 13, which passed with a vote of 54-45. He previously served on the Federal Reserve Board from 2006 to 2011, making him the youngest Fed president at the age of 35. His initial appointment to the chair was made by President Donald Trump in January.

Trump expressed confidence in Warsh’s capabilities, suggesting that he is exceptionally prepared for this leadership role and predicting that Warsh will be remembered as one of the most outstanding chairmen in history.

“Today marks my return to an institution that I actually hold dear. It was at another momentous moment, almost a generation ago, that I served alongside some of the Fed’s finest public servants, both here in Washington and at the Reserve Bank,” Warsh stated.

“My goal now is to create an environment where talented people can do the best work of their lives, meeting every challenge with a common purpose and dedication to the national interest – a spirit of excellence. These missions are now mine, Mr. President, because of the confidence you have placed in me, and I will accept them with gratitude and strive every day to serve our fellow citizens well,” he added.

The 56-year-old Warsh succeeds Jerome Powell, who served as chairman for eight years until his term expired earlier this month. Powell will remain a director on the Federal Reserve Board.