Trump swears in Kevin Warsh as Federal Reserve chair, seeks rate cuts

Kevin Warsh is now the most powerful economic policymaker on the planet. President Donald Trump officiated his swearing-in as Federal Reserve chair on May 22, 2026, a ceremony held at the White House for the first time since 1987.

A razor-thin confirmation

Warsh’s path to the Fed’s top seat was anything but smooth. The Senate confirmed him on May 13 with a 54-45 vote, the narrowest margin ever recorded for a Federal Reserve chair. Only one Democrat, Sen. John Fetterman, crossed the aisle to support the nomination.

Trump first put Warsh’s name forward in late January 2026. Warsh served as a Fed governor from 2006 to 2011, a period that included the worst financial crisis since the Great Depression.

During the ceremony, Trump praised Warsh as destined to be a “great chairman” while simultaneously urging him to maintain independence in his policy decisions.

The rate cut question

Warsh has not made any explicit promises on monetary policy, but he has signaled openness to rate cuts under specific circumstances. Warsh’s broader agenda extends beyond rates. He has committed to a reform-oriented approach at the Fed, advocating for a streamlined balance sheet and closer collaboration with the Treasury Department on fiscal issues.

Why crypto is paying attention

The new Fed chair has publicly acknowledged Bitcoin as an “important asset.” Warsh also has personal financial ties to cryptocurrencies, which were disclosed during his confirmation process. Those holdings have prompted speculation that his policy instincts may favor a more permissive environment for digital currencies and blockchain-based financial products. This stands in sharp contrast to the more traditional monetary policy stance of his predecessor, who largely treated crypto as a peripheral concern at best.

Crypto markets have already shown positive sentiment in response to the confirmation and swearing-in.

The last time a Fed chair was sworn in at the White House, it was Alan Greenspan in 1987.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.