Kevin Warsh has officially taken office as the 17th Chairman of the Federal Reserve, being sworn in during a ceremony at the White House on Friday.
The oath was administered by Supreme Court Justice Clarence Thomas in the East Room, following a speech by President Donald Trump, who expressed confidence that Warsh would be “one of the truly great chairs of the Federal Reserve that ever lived.”
Warsh expressed gratitude for having Thomas administer his oath, praising him as a “brilliant, independent thinker” who upholds constitutional values and brings a collegial spirit to the Supreme Court.
In his remarks, Warsh reflected on his experiences with former Fed Chairman Alan Greenspan, appointed by President Ronald Reagan in 1987.
“I knew five of my predecessors in this role, some quite well, but it was Chairman Greenspan who truly taught me what was expected of this position,” Warsh noted.
“Like Alan… like Chairman Greenspan, I plan to approach this role with energy and dedication, faithful to the Federal Reserve’s mission and core traditions.”
Warsh highlighted that the Fed’s objectives are to maximize employment and maintain price stability, pledging to bring a “reform-oriented” approach to his leadership.
“If we chase these goals with wisdom, clarity, independence, and determination, then we should see lower inflation, stronger growth, increased real wages, and ultimately, greater prosperity for America. This will also enhance our standing in the world,” he said.
He added, “To achieve this mission, I will guide a reform-minded Federal Reserve Board, learning from both our achievements and setbacks, evolving beyond static models, and holding ourselves to high standards of integrity and performance.”
Trump has been quite critical of the previous Fed chairman, Jerome Powell, during his second term, voicing dissatisfaction with the Fed’s recent direction.
Trump commented, “The previous administration became distracted by issues far from our central mission, addressing matters like climate policy and DEI,” noting that during that time, inflation reached historic highs.
He also underscored his desire for Warsh to maintain independence in his role.
“I want Kevin to be entirely independent. Just focus on doing a great job without looking at me or anyone else,” Trump said.
