President Donald Trump speaks at the swearing-in ceremony for new Federal Reserve Chairman Kevin Warsh, in the East Room of the White House in Washington D.C., May 22, 2026. [Jonathan Ernst/Reuters]

Kevin Warsh was sworn in as chairman of the Federal Reserve Board of Governors on Friday, the 22nd. President Donald Trump praised Warsh, a former Fed governor, as a leader who can restore the central bank's credibility and usher in a new era of American economic growth.

At the ceremony held in the East Room of the White House, President Trump lauded Warsh as "one of the truly great chairs of the Federal Reserve we have ever produced."

"He has an exceedingly rare set of skills," Trump said, adding, "He is respected by all."

Supreme Court Justice Clarence Thomas administered the oath of office to Warsh, officially appointing him as Fed chairman.

Warsh, 56, takes the helm as the successor to Jerome Powell at a critical juncture for the U.S. economy, with multiple factors dominating financial markets, including inflationary pressures, global instability, and interest rate policy.

According to CNN, Warsh steps into the role amid growing debate over whether the Fed should keep interest rates steady or take more aggressive action, amidst the impact of energy prices and geopolitical tensions on inflation.

At the ceremony, President Trump emphasized that the new chairman, Warsh, would conduct his duties independently, despite his previous criticisms of former Chairman Powell.

"I want Kevin to be totally independent," Trump said. "Don't even look at me. Don't look at anybody. Just do your job, and do a great job."

At the same time, Trump sharply criticized the direction of the Fed under its previous leadership, accusing it of becoming distracted by political and ideological issues.

"The Fed has lost its way in recent years," President Trump stated. "It has been distracted by issues that have nothing to do with its core mission and mandate, such as climate policy or policies related to diversity, equity, and inclusion (DEI)."

Warsh echoed these sentiments, vowing to lead a "reform-minded Federal Reserve" focused on inflation, growth, employment, and institutional soundness.

After taking the oath from Justice Thomas, Warsh said, "The mission of the Federal Reserve is to foster price stability and maximum employment."

"If we pursue these objectives with wisdom, clarity, independence, and resolve, inflation will fall, economic growth will be stronger, real disposable income will rise, and America will be more prosperous," he stated.

Warsh also pledged to modernize the central bank, criticizing outdated economic models and excessive "forward guidance" practices.

President Trump used the occasion to boast about the strength of the U.S. economy under his administration, citing stock market gains, falling jobless claims, job growth in the private sector, deregulation, tariffs, and what he claimed was $18 trillion in investments, the largest ever.

"The stock market went up 600 points today. That means people like you," President Trump said at the ceremony.

Warsh previously set a record as the youngest-ever Fed governor when he was appointed at age 35. A graduate of Stanford University and a Wall Street executive, he is widely seen as aligned with President Trump's pro-growth economic policies, yet on Friday, he emphasized that the Fed would operate according to its independent mandate.

"When I leave this podium, the real work begins," Warsh said. "So let's get to work."

By Hong Seong-gu, Chief Reporter, NNP USA / Special Contribution NNP info@newsandpost.com