Trump will swear in Warsh on Friday to lead U.S. Federal Reserve

He will take office as fellow governors ⁠contemplate ​a rate hike to tame inflation brought on by Trump's war in Iran. A majority of Fed policymakers ⁠at their April 28-29 meeting felt "some policy firming would likely become ⁠appropriate" ⁠if inflation stays persistently above the central bank's 2% target, according to minutes of the meeting ‌released ‌Wednesday.

U.S. ‌President Donald Trump ​will swear in Kevin Warsh as the chair of the Federal Reserve ‌on Friday at the White House, the Trump administration said on Thursday. Warsh was confirmed to the role in a ‌nearly party-line vote on May 13. He succeeds Jerome ‌H. Powell as the chair of the central bank, though Powell will remain on the board until 2028. Warsh, 56, will serve a ⁠four-year ​term as ⁠chair and a 14 year term as a Fed governor. Trump ⁠selected him as a bulwark against further rate hikes. Warsh has ​long expressed a desire to lower rates while slashing ⁠the Fed's balance sheet. He will take office as fellow governors ⁠contemplate ​a rate hike to tame inflation brought on by Trump's war in Iran. A majority of Fed policymakers ⁠at their April 28-29 meeting felt "some policy firming would likely become ⁠appropriate" ⁠if inflation stays persistently above the central bank's 2% target, according to minutes of the meeting ‌released ‌Wednesday.