UPDATE 1-Warsh to be sworn in as Fed chair at White House on Friday, Fox Business reports

Adds further detail on Warsh

WASHINGTON, May 18 (Reuters) - Kevin Warsh will be sworn in as the next chairman of the U.S. Federal Reserve on Friday in a White House ceremony hosted by U.S. President Donald Trump, Fox Business reported on Monday, citing a White House official.

The U.S. Senate on Wednesday approved Kevin Warsh as chair of the Federal Reserve, putting the 56-year-old lawyer and financier at the helm as the U.S. central bank grapples with intensifying inflation that may make it hard to push through the interest-rate cuts that President Donald Trump has demanded.

Warsh, Trump's pick for Fed chair, presumably brings a fresh start in relations between the Oval Office and the central bank after eight years of friction with the White House, a global pandemic, and the fight with high inflation.

Warsh will take the leadership baton from Fed Chair Jerome Powell.


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