Warsh to be sworn in as Fed chair at White House on Friday
WASHINGTON — Kevin Warsh will be sworn in as U.S. Federal Reserve chief on Friday by President Donald Trump, a White House official said on Monday, capping off the process of installing the 56-year-old lawyer and financier at the helm of the central bank as it grapples with intensifying inflation that may make it hard to push through the interest-rate cuts Trump so deeply desires.
Warsh is succeeding Jerome Powell, whose eight-year run as Fed leader formally expired on Friday, although he plans to remain as a Board of Governors member until he is satisfied that a Trump administration criminal probe of him is fully wound down.
Powell was sworn in as chair pro tempore on Friday to bridge the leadership gap until Warsh is formally installed.
The investigation into Powell centering on cost overruns for building renovations at the Fed's Washington headquarters complex became an obstacle for a time to Warsh's confirmation by the Senate.
The probe was settled to the satisfaction of an objecting Republican senator, however, and the full Senate confirmed Warsh on an almost-party-line vote on
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