Kevin Warsh took the oath of office as the 17th Chairman of the Federal Reserve Board of Governors on Friday. Warsh was confirmed after a 54-45 Senate vote earlier this month, marking the slimmest confirmation margin for a central bank chief in modern U.S. history. 

Assuming office, Warsh secured a unanimous selection from the Federal Open Market Committee to serve as its chairman, pledging to implement a “reform-oriented” approach focused on reducing reliance on static macroeconomic assumptions, trimming the central bank’s balance sheet and confronting persistent inflationary pressures, including those linked to energy markets.

WHY IT MATTERS

Warsh’s chairmanship may