Supreme Court Justice Clarence Thomas administered the oath of office. Also on hand were House Speaker Mike Johnson, R-La., Justice Brett Kavanaugh, CIA Director John Ratcliffe and Cabinet members.
“I expect he will go down as one of the truly great chairmen of the Federal Reserve that we’ve ever had,” Trump said of Warsh.
Trump made a point of saying during his remarks, “Honestly, I really mean this. This is not said in any other way: I want Kevin to be totally independent.”
“I want him to be independent and just do a great job,” Trump said. “Don’t look at me, don’t look at anybody. Just do your own thing.”
However, Trump added that “in the eyes of many, the Fed has lost its way in recent years” under his predecessor, Democratic President Joe Biden. Trump also suggested that Warsh is looking to lead policies that promote “positive economic growth” and that doing so did not have to mean higher inflation.
Trump spent months criticizing Warsh's predecessor, Jerome Powell, for being reluctant to cut interests rates, arguing that lower borrowing costs would provide an economic boost.
