Kevin Warsh is sworn in as Fed chair and pledges monetary independence

Kevin Warsh took the oath of office as the 17th Federal Reserve Chair on May 22, 2026, in a ceremony at the White House East Room administered by Supreme Court Justice Clarence Thomas. Warsh pledged to preserve the Fed's independence over monetary policy and told Congress he would never predetermine interest rates at the president's request. President Trump stated at the ceremony that he wanted Warsh to be "totally independent" — a statement that drew attention given the unprecedented pressure campaign Trump had waged against Powell.