Trump to Swear In Kevin Warsh as Federal Reserve Chair at White House

President Trump will swear in Kevin Warsh as the next Federal Reserve chair during a White House ceremony on Friday. The ceremony marks the first time a Federal Reserve chair has been sworn in at the White House in almost 40 years.

A White House official told CNBC that Trump will personally administer the oath. The event replaces the usual swearing-in at the Federal Reserve building. Warsh, 56, will become the 11th chair in the modern era. He is also the wealthiest person to hold the position based on financial disclosures filed ahead of confirmation.

The Senate confirmed Warsh last week in a nearly party-line vote. His confirmation followed a process that began in summer 2025. Jerome Powell's term as chair expired Friday, but he continues to serve on a pro-tempore basis until Warsh takes over.

Warsh will have to divest much of his investment portfolio to comply with new regulations for Federal Reserve officials. Markets expect the post-Powell Fed to resume lowering interest rates, as it did three times in 2025. Elevated inflation and a stable labor market may delay further easing until price increases show clear progress toward the 2% target.

Powell presided over a Fed that missed its inflation target for more than five years.