Kevin Warsh Sworn In as Federal Reserve Chair in White House Ceremony
Trump calls for Fed independence as Kevin Warsh takes oath in White House ceremony, promising reform-oriented leadership amid rising inflation concerns.
WASHINGTON, D.C. — Kevin Warsh took the oath of office as the 17th chairman of the Federal Reserve on Friday during a ceremony in the White House East Room, with U.S. Supreme Court Associate Justice Clarence Thomas administering the oath.
President Donald Trump told the assembled crowd of high-profile former and current lawmakers and officials that he wants Warsh, of Florida, to operate with complete autonomy in his new role.
“I want him to be independent and just do a great job. Don’t look at me, don’t look at anybody, just do your own thing and do a great job,” Trump said during the ceremony.
Warsh Pledges Reform-Oriented Leadership
Following his swearing-in by Justice Thomas, Warsh delivered brief remarks outlining his vision for the Federal Reserve. His wife, Jane Lauder, held a Bible during the oath administration.
“Our mandate at the Fed is to promote price stability and maximum employment. 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, and no less important, America’s place in the world more secure,” Warsh said.
The new Fed chair promised to be a “reform-oriented” leader during his tenure. Warsh previously served as a Federal Reserve board governor during the 2008 global financial crisis.
High-Profile Attendance at Ceremony
Supreme Court Justice Brett Kavanaugh attended the swearing-in ceremony. Kavanaugh and Warsh worked together at the White House during President George W. Bush’s administration.
The ceremony marks the culmination of Trump’s extended public criticism of former Fed Chair Jerome Powell, whom the president had appointed during his first term in 2018. Over the past year, Trump escalated his threats to fire and replace Powell if he refused to lower interest rates.
Economic Challenges Ahead
Warsh assumes leadership of the Federal Reserve as Trump faces mounting economic pressures with the November midterm elections approaching in less than six months. According to the Ohio Capital Journal, inflation reached its highest level last month since the early 2020s, creating additional political challenges for the administration.
The appointment comes as the administration grapples with rising costs related to international conflicts, which have contributed to spikes in gas prices and broader inflationary pressures across the economy.
