Story perspectives

Trump Appoints Kevin Warsh Fed Chair Amid 6.5% Rates

5/25/2026

Summary

Warsh Appointed Fed Chair

President Donald Trump swore in Kevin Warsh as Federal Reserve (Fed) chair on May 22, 2026.
Warsh, who seeks more dissent and rejects forward guidance, replaces Jerome Powell, who remains on the Fed board after Trump’s earlier push to curb independence.
Mortgage rates rose above 6.5 % while inflation climbed to 3.5 % from 2.3 % in March 2025.
Many governors, including three Biden appointees like Lisa Cook, think rates may need to rise, contrary to Trump.

Summary

Warsh Inaugurated

Federal Reserve (Fed) Chair Kevin Warsh was sworn in at the White House on Nov. 22, 2026, the first Fed chair inauguration there since Alan Greenspan in 1987.
President Donald Trump whispered “Don’t look at me or anyone else,” urging independence.
Warsh pledged to break free from frameworks and lead a reform Fed, stressing independence.
Fed Chair Jerome Powell attended as a board member, underscoring continuity amid the venue shift.

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Warsh Appointed Fed Chair

President Donald Trump swore in Kevin Warsh as Federal Reserve (Fed) chair on May 22, 2026.
Warsh, who seeks more dissent and rejects forward guidance, replaces Jerome Powell, who remains on the Fed board after Trump’s earlier push to curb independence.
Mortgage rates rose above 6.5 % while inflation climbed to 3.5 % from 2.3 % in March 2025.
Many governors, including three Biden appointees like Lisa Cook, think rates may need to rise, contrary to Trump.

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