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Kevin Warsh sworn in as Federal Reserve Chair amid inflation concerns

Kevin Warsh sworn in as Federal Reserve Chair amid inflation concerns

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Kevin Warsh was sworn in as Chairman of the Federal Reserve at the White House, with President Donald Trump present and stressing the Fed’s independence. Warsh, who succeeded Jerome Powell, has signaled a reform‑oriented agenda and a willingness to adjust rates to support the economy. Critics have questioned his past stances and the potential for political influence, but Warsh maintains his commitment to an autonomous central bank.

Donald Trump
Republican Party
1. Energy is a big ball game, that's the big one. And we're going to get that down, it'll get down to where it was, maybe even get down lower.
2. American companies are ordering core capital goods to expand their operations at the highest rate in the history of our country.
3. Factory construction is up. New residential construction is way up and consumer spending is way up.
4. I want Kevin to be totally independent. I want him to be independent and just do a great job.
5. Thankfully, unlike some of his predecessors, Kevin understands that when the economy is booming, it is, that's a good thing.
6. It became distracted by concerns far removed from its core mission and mandate, drifting into matters such as climate policy and DEI initiatives, with the Fed straying from its mandate.
7. Don't look at me. Don't look at anybody. Just do your own thing, and do a great job.
8. He's got abilities that very few people have, covers a lot of territory, and he's respected by everybody.
9. I expect he will go down as one of the truly great chairmen of the Federal Reserve that we've ever had, I really believe that.
10. Rates are coming down with the energy. You watch what's going to happen. I had a rotten head of the Fed, and now I have a great head of the Fed today, Kevin Warsh.
Kevin Warsh
Federal Reserve System
1. While I'm not naive about the challenges we face, I believe, Mr President, these years can bring unmatched prosperity that will raise living standards for Americans from all walks of life, and the Fed has something to do with it.
2. 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.
3. Nor would I ever agree to do so if he had.
4. The president never once asked me to commit to any particular interest rate decision, period.
5. 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 - and no less important, America's place in the world more secure.
6. Our mandate at the Fed ⁠is to promote price stability and maximum employment.
Elizabeth Warren
Democratic Party
1. Having proven himself to be Donald Trump's sock puppet, I worry Mr Warsh will prioritize the President's political interests over the economic wellbeing of American families.
2. Kevin Warsh starts his tenure with his credibility in tatters.
Ken Roggoff
Harvard University
1. If you try to get rid of the central bank's independence, markets say, what are you planning to do? Are you trying to influence us? And they immediately drive up interest rates — which, of course, is the opposite of what the government wants.
2. The independence of the US federal reserve is uniquely important in the global financial system. Because the dollar sits at the top of the global financial system. And when the US becomes unstable it affects everyone.

Kevin Warsh sworn in as Federal Reserve Chair amid inflation concerns

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