Federal Reserve Chairman nominee Kevin Warsh will be sworn in during a Senate Banking, Housing, and Urban Affairs Committee confirmation hearing on Tuesday, April 21, 2026, in the Dirksen Building.
Tom Williams | Cq-roll Call Inc. | Getty Images
President Donald Trump plans to swear in Kevin Warsh, his pick to head the Federal Reserve, at a ceremony on Friday, a White House official told CNBC.
The move would end a process that began in the summer of 2025 and culminated last week with the Senate confirming Warsh in a near-party-line vote.
The new chairman will replace Jerome Powell. Mr. Powell’s term expired on Friday, but he will continue in his role on an interim basis until Mr. Warsh officially takes over.
If Mr. Warsh, 56, takes the seat, he will not only be the 11th chairman in modern times, but also the wealthiest person to ever hold the chair, based on financial disclosures he filed before his confirmation. He will likely have to sell many of his portfolio investments himself to comply with strict new regulations for Fed officials.
The ceremony will take on added significance given that President Trump not only nominated Warsh, but did so with the hope that the post-Powell Fed would resume lowering interest rates, as it did three times in 2025.
But markets expect that further easing will be held back until there is sufficient evidence that rising inflation levels and a stable labor market will bring prices back up to the Fed’s 2% target. Powell chairs the Fed, which has failed to meet its targets for more than five years in a row.
