- President Donald Trump on Friday oversaw the White House swearing-in of the new Federal Reserve chair, Kevin Warsh, as he tried to emphasize that the nation's central bank would remain independent.
- This statement marks a significant shift from Trump's previous stance, where he spent years attempting to pressure the central bank into lowering interest rates.
- Trump had frequently attacked Warsh's predecessor, Jerome Powell, whom he appointed, for refusing to align with his calls for lower interest rates, even questioning Powell's loyalty.
- During his 2024 campaign and after returning to power, Trump continued his criticism of the Fed, attempting to stack its board with loyalists and initiating investigations against officials.
- Kevin Warsh, sworn in by Justice Clarence Thomas, pledged to lead a "reform-oriented Federal Reserve" focused on integrity and performance, drawing inspiration from Alan Greenspan.
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