President Donald Trump praised new Federal Reserve Chairman Kevin Warsh as a reform-minded leader focused on inflation, growth, and restoring confidence in the central bank during a White House swearing-in ceremony Friday.
By yourNEWS Media Newsroom
Kevin Warsh officially assumed leadership of the Federal Reserve on Friday after being sworn in during a White House ceremony where President Donald Trump described the former Fed governor as a central figure in what he called a new phase of American economic growth and monetary reform.
Speaking before guests in the East Room, Trump praised Warsh’s financial background and leadership abilities, calling him “one of the truly great chairmen of the Federal Reserve that we’ve ever had.”
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“He’s got abilities that very few people have,” Trump said. “He’s respected by everybody.”
Warsh, 56, replaces Jerome Powell at a time when the Federal Reserve faces mounting pressure over inflation, interest-rate policy, global instability, and energy market volatility.
According to a CNN report, Warsh takes office amid increasing debate inside financial markets over whether the central bank should continue maintaining current interest-rate levels or move more aggressively in response to rising inflation pressures linked to geopolitical tensions and energy costs.
Trump said during the ceremony that despite previous disagreements with Powell and the Fed’s recent direction, he wanted Warsh to operate independently.
“I want Kevin to be totally independent,” Trump said. “Don’t look at me, don’t look at anybody. Just do your own thing, and do a great job.”
At the same time, Trump criticized the Federal Reserve’s leadership in recent years, arguing the institution had drifted away from its primary economic responsibilities.
“The Fed lost its way in recent years,” Trump said. “It became distracted by concerns far removed from its core mission and mandate, drifting into matters such as climate policy and DEI initiatives.”
Warsh echoed many of those themes in remarks following the oath ceremony, pledging to focus the central bank on its statutory responsibilities involving inflation, employment, and economic stability.
“Our mandate at the Fed is to promote price stability and maximum employment,” Warsh said after being sworn in by Supreme Court Justice Clarence Thomas.
“When we pursue those aims with wisdom and clarity, independence and resolve, inflation can be lower, growth stronger, real take-home pay higher, and America can be more prosperous,” he added.
Warsh also signaled plans to modernize portions of the Federal Reserve’s policymaking framework, criticizing what he described as outdated economic assumptions and excessive reliance on forward guidance policies that have increasingly shaped Fed communications in recent years.
The ceremony also became a platform for Trump to highlight broader economic performance under his administration.
The president pointed to rising stock markets, lower unemployment claims, private-sector hiring gains, deregulation efforts, tariff policies, and what he described as approximately $18 trillion in investment commitments entering the United States economy.
“The stock market’s up 600 points today,” Trump said while addressing Warsh during the event. “That means they like you.”
Warsh previously made history as the youngest governor ever appointed to the Federal Reserve Board when he joined at age 35. Before entering public service, he worked on Wall Street and studied at Stanford University.
He has long been viewed as broadly aligned with Trump’s pro-growth economic agenda, although Warsh stressed Friday that the Federal Reserve would continue operating independently from political pressure.
“After we leave this stage, the real work begins,” Warsh said. “So let’s begin that work.”
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