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Business & Finance

Kevin Warsh sworn in as Fed chair as Trump faces backlash over economy

The Guardian UK Friday 22 May 2026, 21:20 UTC By David Smith, Robert Tait, Maham Javaid and Gaya Gupta in Washington 1 min read
Key Points

Kevin Warsh has been sworn in as the chair of the US Federal Reserve, taking charge of the world's largest economy. He assumes this role as the Trump administration faces increasing criticism regarding the cost of living. The Federal Reserve is currently under pressure from the US president to reduce interest rates despite rising prices.

Former Wall Street banker takes over amid growing concern over cost of living – and disapproval of Trump’s agenda

Kevin Warsh has been sworn in as chair of the US Federal Reserve, tasked with steering the world’s largest economy as the Trump administration faces mounting pressure over Americans’ financial wellbeing.

Warsh, hand-picked by Donald Trump, takes charge of the powerful central bank as it comes under extraordinary pressure from the US president to cut interest rates, even as prices climb.

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Originally published by The Guardian UK Read original →

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