The Steady Drip: Kevin Warsh Sworn In as Fed Chair (Connecting the Dots: Kevin Warsh, Jerome Powell, Federal Reserve, Booz Allen Hamilton, The Carlyle Group, George H.W. Bush, Cravath, Swaine & Moore, Barack Obama, Salon, George W. Bush & The Carnegie/Soros Network)

Kevin Warsh Sworn In as Fed Chair (Connecting the Dots: Kevin Warsh, Jerome Powell, Federal Reserve, Booz Allen Hamilton, The Carlyle Group, George H.W. Bush, Cravath, Swaine & Moore, Barack Obama, Salon, George W. Bush & The Carnegie/Soros Network)

By Newsmax Wires | Friday, 22 May 2026 01:43 PM EDT

https://www.newsmax.com/politics/kevin-warsh-sworn-in-federal-reserve/2026/05/22/id/1257221/

Kevin Warsh was sworn in Friday as chairman of the Federal Reserve, with President Donald Trump hailing the former Fed governor as a leader who can restore the central bank's credibility and help drive a new era of American economic growth.

Speaking during a White House East Room ceremony televised live on Newsmax, Trump praised Warsh as "one of the truly great chairmen of the Federal Reserve that we've ever had."

"He's got abilities that very few people have," Trump said. "He's respected by everybody."

Supreme Court Justice Clarence Thomas administered the oath of office to Warsh, officially swearing him in as Fed chair.

Warsh, 56, succeeds Jerome Powell at a pivotal moment for the U.S. economy, with inflation pressures, global instability, and interest-rate policy all dominating financial markets.

Warsh enters the role amid growing debate over whether the Fed should continue holding rates steady or take more aggressive action as energy prices and geopolitical tensions impact inflation, CNN reported.

During the ceremony, Trump emphasized that Warsh would operate independently despite the president's past criticism of Powell.

"I want Kevin to be totally independent," Trump said. "Don't look at me, don't look at anybody. Just do your own thing, and do a great job."

At the same time, Trump sharply criticized the Federal Reserve's direction under previous leadership, accusing it of drifting into political and ideological issues.

"The Fed lost its way in recent years," Trump said. "It became distracted by concerns far removed from its core mission and mandate, drifting into matters such as climate policy and DEI initiatives."

Warsh echoed that message, pledging to lead "a reform-oriented Federal Reserve" focused squarely on inflation, growth, employment, and institutional integrity.

"Our mandate at the Fed is to promote price stability and maximum employment," Warsh said after taking the oath of office from Supreme Court Justice Clarence Thomas.

"When we pursue those aims with wisdom and clarity, independence and resolve, inflation can be lower, growth stronger, real take-home pay higher, and America can be more prosperous."

Warsh also promised modernization efforts at the central bank, criticizing what he described as outdated economic models and excessive "forward guidance" practices.

Trump used the occasion to tout the strength of the U.S. economy under his administration, pointing to stock market gains, falling jobless claims, private-sector job growth, deregulation, tariffs, and what he claimed is a record $18 trillion in investment commitments flowing into the country.

"The stock market's up 600 points today," Trump said during the ceremony. "That means they like you."

Warsh previously served as the youngest governor in Federal Reserve history when he joined the board at age 35. A former Stanford scholar and Wall Street executive, he is widely viewed as aligned with Trump's pro-growth economic agenda, though he stressed Friday that the Fed would remain guided by its independent mission.

"After we leave this stage, the real work begins," Warsh said. "So let's begin that work."

Kevin Warsh

https://en.wikipedia.org/wiki/Kevin_Warsh

In 2002, President George W. Bush named Warsh as a special assistant to the president for economic policy and the executive secretary of the National Economic Council. Warsh's work involved handling the aftermath of multiple significant accounting scandals, including representing the Bush administration in discussions over the Sarbanes–Oxley Act.

Early life and education (1970–1995)

Warsh's interest in tennis led him to attend Stanford University,^[8] where he served as the chair of the Senate of Associated Students.^[10] A member of the Hoover Institution, he helped its economists build computer models.^[6] Warsh graduated from Stanford with a bachelor's degree in public policy in 1992.^[11] He considered remaining at Stanford to pursue a doctorate in economics, but at his father's insistence,^[6] he attended Harvard Law School, graduating cum laude^[8] with a Juris Doctor in 1995.^[11] Warsh completed coursework in market economics and debt capital markets at Harvard University and the Massachusetts Institute of Technology.^[11] He was a summer associate at Cravath, Swaine & Moore and Brobeck, Phleger & Harrison.

Booz Allen Hamilton

https://en.wikipedia.org/wiki/Booz_Allen_Hamilton#21st_century

21st century

Bloomberg named it "the world's most profitable spy organization".^[27] According to an Information Week piece from 2002, Booz Allen had "more than one thousand former intelligence officers on its staff."^[19] According to its own website, the company employs more than 10,000 personnel who have cleared TS/SCI background checks.

In 2013, David Sirota of Salon said that Booz Allen and parent company The Carlyle Group make significant political contributions to the Democratic Party and the Republican Party as well as individual politicians, including Barack Obama and John McCain.[53] Sirota concluded that "many of the politicians now publicly defending the surveillance state and slamming whistleblowers like Snowden have taken huge sums of money from these two firms", referring to Booz Allen and Carlyle, and that the political parties are "bankrolled by these firms".[53] According to Maplight, a company that tracked campaign donations, Booz Allen gave a total of just over $87,000 to U.S. lawmakers from 2007 to June 2013.[54] According to CNBC, these contributions resulted in a steady stream of government contracts, which puts Booz Allen in privileged position. Due to the company's important government services, “the government is unlikely to let the company go out of business. It's too connected to fail”.[55] Furthermore, the influence Booz Allen carries in Washington isn't restricted to donations, but to a large network of lobbyists and political insiders. According to government watchdog OpenSecrets, “4 out of 6 Booz Allen Hamilton lobbyists in 2015-2016 have previously held government jobs”.

In 2013, Booz Allen's Mark Herman, Stephanie Rivera, Steven Mills, and Michael Kim published the Field Guide to Data Science.[56] A second edition was published in 2015.[57] In 2017, Booz Allen's Josh Sullivan and Angela Zutavern published The Mathematical Corporation.

Connecting the Dots:

Kevin Warsh In 2002, President George W. Bush named Warsh as a special assistant to the president for economic policy and the executive secretary of the National Economic Council. Warsh's work involved handling the aftermath of multiple significant accounting scandals, including representing the Bush administration in discussions over the Sarbanes–Oxley Act and was sworn in Friday as chairman of the Federal Reserve.

George W. Bush named Warsh as a special assistant to the president for economic policy and the executive secretary of the National Economic Council. Warsh's work involved handling the aftermath of multiple significant accounting scandals, including representing the Bush administration in discussions over the Sarbanes–Oxley Act and is George H.W. Bush’s son.

George H.W. Bush was George W. Bush’s father and an adviser for the Carlyle Group.

Jerome H. Powell (Jay) was a partner at the Carlyle Group and the Chairman for the Federal Reserve System.

Kevin Warsh was sworn in Friday as chairman of the Federal Reserve.

Edward J. Mathias is a managing director at the Carlyle Group and a director at the Economic Club of Washington.

David M. Rubenstein is the president of the Economic Club of Washington and a co-founder & co-CEO for the Carlyle Group.

Carlyle Group is the parent company for Booz Allen Hamilton.

Booz Allen Hamilton is a contractor for the National Security Agency (NSA).

Obamacare is Barack Obama’s signature policy initiative.

Booz Allen Hamilton is a contractor for Obamacare.

Barack Obama’s signature policy initiative is Obamacare and was an intern at Sidley Austin LLP.

Michelle Obama was a lawyer at Sidley Austin LLP.

R. Eden Martin is counsel at Sidley Austin LLP and the president of the Commercial Club of Chicago.

Robert S. Osborne is a member of the Commercial Club of Chicago and was the EVP & general counsel for Booz Allen Hamilton.

Carlyle Group is the parent company for Booz Allen Hamilton.

Newton N. Minow was a member of the Commercial Club of Chicago and a senior counsel at Sidley Austin LLP and an honorary trustee at the Carnegie Corporation of New York.

Andrew Carnegie was the founder of the Carnegie Corporation of New York.

Carnegie Corporation of New York was a funder for the Brookings Institution (think tank) and a supporter for the American Society for Muslim Advancement.

Ted Lieu was honored with the Carnegie Corporation of New York's Great Immigrants Award, has represented California's 36th congressional district in the United States House of Representatives since 2023 and is a member of the Congressional Progressive Caucus.

Astrid S. Tuminez was a program officer at the Carnegie Corporation of New York and is the 7th President of the Utah Valley University (Charlie Kirk Shooting).

Andrew Carnegie was the founder of the Carnegie Corporation of New York.

Carnegie Corporation of New York was a funder for the Brookings Institution (think tank) and a supporter for the American Society for Muslim Advancement.

Foundation to Promote Open Society was a funder for the Brookings Institution (think tank) and the NAACP Legal Defense & Educational Fund.

George Soros was the chairman for the Foundation to Promote Open Society.

Cameron F. Kerry is a fellow at the Brookings Institution (think tank), John F. Kerry’s brother and a senior counsel at Sidley Austin LLP.

Cyrus F. Freidheim Jr. is an honorary trustee at the Brookings Institution (think tank), a member of the Commercial Club of Chicago and was a managing director at Booz Allen Hamilton.

Carlyle Group is the parent company for Booz Allen Hamilton.

Vernon E. Jordan Jr. is an honorary trustee at the Brookings Institution (think tank) a senior director at the NAACP Legal Defense & Educational Fund and was the president of the Economic Club of Washington.

Adebayo O. Ogunlesi is a director at the NAACP Legal Defense & Educational Fund and was an attorney at Cravath, Swaine & Moore.

Kevin Warsh was a summer associate at Cravath, Swaine & Moore and sworn in Friday as chairman of the Federal Reserve.

Frederick A.O. Schwarz Jr. is a senior counsel at Cravath, Swaine & Moore, a senior director at the NAACP Legal Defense & Educational Fund and the chairman emeritus for the Natural Resources Defense Council.

Foundation to Promote Open Society was a funder for the NAACP Legal Defense & Educational Fund, the Natural Resources Defense Council and the Sundance Institute.

George Soros was the chairman for the Foundation to Promote Open Society.

Robert Redford was a trustee at the Natural Resources Defense Council, the founder & president of the Sundance Institute and a director at the Apollo Alliance.

John E. Warnock is a trustee at the Sundance Institute and the chairman & investor for the Salon Media Group Inc.

Salon is a publication for the Salon Media Group Inc.

Ellen Pao was a director at the Apollo Alliance and a corporate attorney for Cravath, Swaine & Moore.

Kevin Warsh was a summer associate at Cravath, Swaine & Moore and sworn in Friday as chairman of the Federal Reserve.

Salon is a publication for the Salon Media Group Inc.

Robert McKay was a director at the Salon Media Group Inc. and a contributor for the American Bridge 21st Century.

Sidney Blumenthal is a consultant for American Bridge 21st Century, a consultant for Media Matters and was the Washington bureau chief for Salon.

George Soros was a contributor for the American Bridge 21st Century, the chairman for the Foundation to Promote Open Society and is the founder & chairman for the Open Society Foundations.

Foundation to Promote Open Society was a funder for Media Matters.

Open Society Foundations was a funder for the Planned Parenthood Federation of America.

Cecile Richards was the president of the Planned Parenthood Federation of America and Nancy Pelosi’s deputy chief of staff.

Nancy Pelosi’s deputy chief of staff was Cecile Richards, the minority leader for the U.S. House of Representatives, is a friend of Sally Hambrecht and married to Paul Pelosi.

Sally Hambrecht is friend of Nancy Pelosi and married to William R. Hambrecht.

Paul Pelosi is married to Nancy Pelosi and a friend of William R. Hambrecht.

William R. Hambrecht is married to Sally Hambrecht, a friend of Paul Pelosi and an investor & director for the Salon Media Group Inc.

Salon is a publication for the Salon Media Group Inc.

John E. Warnock is the chairman & investor for the Salon Media Group Inc. and a trustee at the Sundance Institute.

Foundation to Promote Open Society was a funder for the Sundance Institute and the Brookings Institution (think tank).