Kevin Warsh was sworn in as the 17th chair of the Federal Reserve on May 22, 2026, in a White House ceremony administered by Supreme Court Justice Clarence Thomas. He succeeds Jerome Powell, who led the central bank since 2018 through the pandemic and inflation crisis.
The Senate confirmed Warsh on a 54-45 party-line vote. He inherits a challenging economic landscape marked by rising inflation driven by the ongoing Iran conflict, escalating tariffs, and surging gasoline prices that have pushed consumer sentiment to record lows.
Warsh previously served as a Fed governor from 2006 to 2011, during the global financial crisis. He has pledged to lead a "reform-oriented" Fed focused on independence and transparency, and criticized the institution's static economic models.
His financial disclosures reveal significant investments in blockchain and digital assets, including Bitcoin infrastructure and decentralized finance protocols. He has committed to divesting all holdings. Bitcoin traded near $77,000 on the day of his swearing-in, reflecting cautious market sentiment amid uncertainty over his monetary policy approach.