Kevin Warsh officially became the Chairman of the Federal Reserve during a ceremony at the White House. The event marked a shift from recent tradition and took place on Friday morning.
U.S. President Donald Trump observed as Warsh took the oath of office from Supreme Court Justice Clarence Thomas. Warsh’s wife, Jane Lauder, accompanied him during the ceremony. Warsh succeeds Jerome Powell, who served as the Federal Reserve Chair for eight years.
The ceremony was attended by prominent figures, such as Treasury Secretary Scott Bessent, National Economic Council Director Kevin Hassett, and Justice Brett M. Kavanaugh.
As the new Federal Reserve Chair, Warsh faces the challenge of managing surging inflation, a significant issue affecting Americans. The inflation increase has been exacerbated by the ongoing conflict in Iran.
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