Kevin Warsh, nominated by U.S. President Donald Trump, officially took office after being sworn in during a ceremony at the White House.
Warsh, who was nominated by Trump to lead the U.S. Federal Reserve (Fed), formally assumed the position following the oath ceremony.
Speaking at the White House ceremony, Trump highlighted Warsh’s educational background and career, emphasizing that he wanted him to carry out his duties “with complete independence”:
“There is nobody more qualified than Kevin Warsh to lead the Fed in America. I want Kevin to be completely independent. Be independent and just do a great job. Don’t look at me, don’t look at anyone else — just do what you believe is right and do a great job.”
After taking the oath of office, Warsh said he was not “naive” about the challenges ahead and stated:
“I believe these years can bring unparalleled prosperity that will raise the living standards of Americans from every walk of life. If we pursue these goals with wisdom and clarity, independence and determination, inflation can be lower, growth can be stronger, real net incomes can be higher, America can become a more prosperous country, and America’s place in the world can be more secure.”
“To fulfill this mission, I will lead a reform-oriented Fed by learning from both the successes and mistakes of the past, moving beyond stagnant frameworks and models, and maintaining clear standards of integrity and performance.”
“My current goal is to create an environment where the most talented people can do the best work of their lives and overcome every challenge with a shared sense of purpose and commitment to the national interest.”
The ceremony also marked a first at the White House in 39 years. The last Fed chair to be sworn in at the White House was Alan Greenspan in 1987.