Kevin Warsh to be sworn in as 17th Fed chair, promising biggest shakeup in decades.
Kevin Warsh, who has promised the biggest shakeup in decades at the US central bank, is set to be sworn into office in a White House ceremony as the 17th chair of the Federal Reserve.
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US consumer confidence fell to a record low of 44.8 in May, according to a survey.
According to a survey, US consumer confidence dropped to a record low of 44.8 in May.
Supreme Court Justice Clarence Thomas administered the oath of office to new Federal Reserve Chair Kevin Warsh at the central bank's headquarters. Warsh, a former Fed governor, interned on Thomas's 1991 confirmation.
Kevin Warsh was sworn in as Federal Reserve chair by Supreme Court Justice Clarence Thomas. Warsh previously worked as an intern on Thomas's 1991 Supreme Court confirmation.
Trump says Warsh best prepared to lead Fed.
Trump says nobody better prepared to lead Fed than Warsh.
University of Michigan consumer sentiment index fell to 44.8 in May final, worse than the 48.2 estimate. Inflation expectations rose to 4.8% for one year and 3.9% for five to ten years.
The University of Michigan consumer sentiment index for May final came in at 44.8, below the estimate of 48.2 and the previous 48.2. Current conditions fell to 45.8, expectations to 44.1. One-year inflation expectations rose to 4.8% from 4.5%, and five-to-ten-year expectations rose to 3.9% from 3.4%.
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