US President Donald Trump on Friday formally introduced Kevin Warsh as the new Chairman of the Federal Reserve, praising him as the best-qualified person to lead America’s central bank and publicly calling for his full independence in office.
“No one in America is better prepared to lead the Federal Reserve than Kevin Warsh; I want him to be totally independent,” Trump said during a White House swearing-in ceremony attended by senior administration officials, lawmakers, business leaders and financial executives.
Trump and Warsh entered the ceremony together to prolonged applause in what observers described as a rare and symbolic White House-led transition for the leadership of the US central bank. The event marked the official replacement of Jerome Powell, whose tenure had been marked by repeated tensions with Trump over interest rate policy and inflation management.
Warsh, a former Federal Reserve governor and longtime economic adviser, was confirmed by the US Senate earlier this month in a largely party-line vote. He now begins a four-year term as chair while also serving as a Federal Reserve governor.
The leadership transition comes at a sensitive moment for the American economy, with inflation pressures, volatile energy prices and global geopolitical tensions shaping market expectations around future interest rate decisions. Financial markets are closely watching whether Warsh will pursue aggressive monetary tightening or move toward the lower-rate approach publicly favoured by Trump.
During the ceremony, Warsh pledged to maintain the Federal Reserve’s institutional credibility while pursuing what he described as a “reform-oriented” approach focused on price stability and economic growth. Reports indicated that he also signalled plans to modernise aspects of Federal Reserve operations and policy communication.
The White House event itself drew attention because recent Federal Reserve chair swearing-in ceremonies have traditionally taken place at the Fed rather than the White House. Analysts said the setting reflected Trump’s unusually direct involvement in Federal Reserve leadership and economic policy debates.
Warsh previously served on the Federal Reserve Board from 2006 to 2011 during the global financial crisis and has remained influential in economic policy circles through academic, financial and advisory roles.
His appointment is expected to shape US monetary policy at a time when inflation, energy shocks and international conflicts continue to weigh heavily on the global economy.