Kevin Warsh officially became the 17th chairman of the Federal Reserve on Friday after taking the oath of office during a White House ceremony led by President Donald Trump.
The swearing-in ceremony took place inside the East Room, where Clarence Thomas administered the oath to Warsh in front of administration officials, economic advisers and invited guests.
Trump used the moment to strongly praise the new Fed chairman while also taking another shot at the Federal Reserve’s recent leadership under former chair Jerome Powell.
“I think Kevin will go down as one of the truly great chairmen of the Federal Reserve that we’ve ever had,” Trump said during remarks before the ceremony.
Warsh, who previously served as a Federal Reserve governor during the 2008 financial crisis, spoke about restoring focus to the Fed’s traditional mission of controlling inflation, protecting price stability and supporting employment growth.
“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,” Warsh said.
He added that he plans to lead the central bank from what he described as a “reform-oriented” perspective aimed at modernizing the institution while learning from both past successes and failures.
“To fulfill this mission, I will lead a reform-oriented Federal Reserve, learning from past successes and mistakes both, escaping static frameworks and models, and upholding clear standards of integrity and performance,” he stated.
Warsh also paid tribute to former Fed Chairman Alan Greenspan, who was appointed by President Ronald Reagan in 1987.
“I’ve known five of my predecessors in this job, some of them quite well, but Chairman Greenspan was the first to tell me and show me what this role demands,” Warsh said.
“Like Alan… I intend to fill the role of chairman with energy and purpose.”
During his remarks, Trump sharply criticized the Federal Reserve’s recent direction, accusing the institution of becoming distracted by political and ideological priorities outside its core economic mandate.
“It became distracted by concerns far removed from its core mission and mandate, drifting into matters such as climate policy and DEI initiatives,” Trump said.
The president also blamed previous Fed leadership and the Biden administration for the inflation surge Americans experienced in recent years.
“With the Fed straying from its mandate while the last administration blew out the deficit, Americans suffered the worst inflation that we had in history,” Trump argued.
Despite his criticism of prior leadership, Trump emphasized repeatedly that he wants Warsh to act independently from the White House.
“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.”
Warsh now steps into one of the most powerful economic positions in the world at a time of continued inflation concerns, global instability, and mounting pressure surrounding interest rates and economic growth, per Breitbart News.
Investors and financial markets are expected to closely watch whether Warsh signals major policy changes in the coming months, particularly involving interest rates, inflation management and the Federal Reserve’s broader role in the US economy.
His appointment also represents another major move by Trump to reshape key federal institutions during his second term with officials more closely aligned to his economic vision and governing priorities.
