Here's a full breakdown of the major Kevin Warsh news right now: Kevin Warsh — New Federal Reserve Chair The Big News President Trump is swearing in Kevin Warsh as the new Federal Reserve Chair during a White House ceremony today (Friday, May 22). He succeeds Jerome Powell, whose term expired May 15 but who continued serving on a pro-tempore basis until Warsh officially takes over. (CNBC) Who Is Kevin Warsh? In 2006, Warsh was the youngest person ever appointed to the Federal Reserve Board of Governors at just 35 years old. He served as governor through the 2008 financial crisis alongside then-Chair Ben Bernanke. After leaving the board in 2011, he became a partner at Duquesne Family Office and a visiting fellow at Stanford University's Hoover Institution. He holds a degree in public policy from Stanford and a law degree from Harvard. (Chase) At 56, Warsh will become the 11th chair in the modern era as well as the wealthiest person ever to hold the seat, based on financial disclosures he filed ahead of confirmation. (CNBC) Senate Confirmation The Senate confirmed him on May 13, 2026, in a 54-45 vote — the most divisive in Fed history. (Chase) The Big Challenge — Interest Rates Trump nominated Warsh in part to satisfy his desire for lower interest rates, but Warsh now leads a Fed that is divided over the proper course of monetary policy during an extremely turbulent time. Analysts believe it will be hard for the Fed to lower rates in 2026. (U.S. News & World Report) With inflation spiking and Treasury yields surging, Warsh is likely to confront a Federal Open Market Committee in no mood to ease. Several officials have stressed the need to keep options open for rate hikes ahead. (CNBC) What Warsh Has Said During his confirmation hearing, Warsh said the US economy is still dealing with ripples from a pandemic-driven spike in inflation and that the Fed needs a different framework for inflation. He also said he wants "messier" interest rate-setting meetings, where a "good family fight" can lead to better economic decisions. (Yahoo Finance) What To Watch Tomorrow His official swearing-in ceremony at the White House Any first statements as Chair on interest rates and inflation Market reaction to his leadership tone This is one of the biggest financial stories of 2026. Would you like more detail on what his leadership could mean for the economy?