Washington, D.C. — President Donald J. Trump swore in Kevin Warsh as the new Chairman of the Federal Reserve Board on Friday, calling him one of the most qualified people to ever hold the powerful position.
The East Room event brought together Supreme Court Justices Clarence Thomas and Brett Kavanaugh, Speaker Mike Johnson, several Cabinet secretaries, and business leaders. Warsh, who previously served as a Fed Governor, took the oath of office administered by Justice Thomas.
In his remarks, President Trump praised Warsh’s background — Stanford, Harvard Law, experience at the highest levels of finance and government — and emphasized the need for the Fed to focus strictly on its core mission: stable prices and maximum employment.
Trump was blunt about recent years: “The Federal Reserve lost its way… distracted by concerns far removed from its core mission.” He pointed to the inflation spike during the previous administration as a painful lesson for American families.
Strong Economic Tailwinds The timing of the swearing-in was symbolic. During the ceremony itself, the Dow Jones was up more than 600 points, with both the Dow and S&P 500 hitting new record highs. Trump highlighted broader wins under his administration:
- $18 trillion in announced investments into the United States over the past 11 months
- Record-low jobless claims
- Millions of Americans lifted off food stamps
- 100% of net new jobs created in the private sector
Warsh, in his acceptance speech, promised a “reform-oriented” Federal Reserve that learns from past mistakes while maintaining independence. He thanked President Trump for the opportunity and spoke about creating an environment of excellence at the central bank.
The appointment is being seen by supporters as a return to traditional monetary policy focused on American workers and long-term economic growth rather than social or environmental side issues.
This latest move continues Trump’s pattern of placing experienced, pro-growth voices in key economic positions as his administration pushes forward with tax cuts, deregulation, and an aggressive “America First” trade policy.
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