Washington DC - The new US Federal Reserve chairman Kevin Warsh will be sworn in on Friday at the White House in a ceremony hosted by President Donald Trump, the White House said.
Warsh was confirmed by the Senate on Wednesday to lead a central bank whose independence is under attack from Trump. Adding to Warsh's challenges, inflation is running at a three-year high.
"The President will host a swearing-in ceremony for Kevin Warsh at the White House on Friday," a White House official said in a statement to AFP.
It is unusual for the chairman of the Federal Reserve, which is supposed to be an independent body, to be sworn in at the White House. The last central bank chief to do so was Alan Greenspan, nominated by Ronald Reagan, in 1987.
Warsh will have to navigate working with a president who is determined to exert influence over monetary policy and relentlessly berates outgoing chief Jerome Powell.
Once known as a monetary hawk against inflation, Warsh has shifted in line with Trump's push for lower interest rates, a stance that posed an unprecedented challenge to the Fed's independence.
Warsh, confirmed for a four-year term, previously served on the Federal Reserve Board of Governors from 2006 to 2011.
He is already facing criticism from the Democratic opposition, with Senator Elizabeth Warren calling him a "sock puppet."