Kevin Warsh at his swearing-in ceremony at the White House.Image: keystone
May 22, 2026, 10:34 p.mMay 22, 2026, 10:34 p.m
The candidate Kevin Warsh, supported by US President Donald Trump, has been sworn in as the new head of the US central bank Federal Reserve. “I intend to fill this office with energy and purpose,” he said at the White House after taking the oath of office.
The coming years could bring “unprecedented prosperity” for Americans. “And the Fed has its part in this.”
Warsh’s inauguration marks a new chapter in the recently strained relationship between the US government and the Fed. Trump had repeatedly called for lower interest rates in vain and attacked the previous Fed chief Jerome Powell. His attacks sparked concerns in financial markets about the institution’s political independence.
“Fortunately, Kevin, unlike some of his predecessors, understands that it’s good when the economy is booming, and it’s doing that right now,” Trump said. He and Warsh agree that the fight against inflation must not stifle the economy. “He is striving for positive economic growth, that is so important,” said Trump.
“Unfortunately, in the eyes of many, the Fed has lost its course in recent years,” said Trump, citing initiatives against discrimination and climate change. Warsh will bring the Fed back to its core mission, which is to achieve price stability and full employment.
At the same time, Trump invoked the institution’s independence. Addressing Warsh, he said: “Don’t look at me, don’t look at anyone, do your thing and do a good job.” (sda/dpa)