Trump Welcomes New Fed Chair Warsh During White House Swearing-in Ceremony – RedState
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There was a momentous occasion at the People’s House on Friday.

Supreme Court Justice Clarence Thomas did the honors of swearing in the new Federal Reserve Chair Ken Warsh, during a ceremony on Friday morning that also included the attendance of Trump administration member, Federal Housing Finance Agency Director Bill Pulte, and President Donald Trump, at the White House.





The president welcomed guests to the White House as he opened his remarks, and he set the bar high, predicting Warsh “will go down” in history as a great Federal Reserve chairman:

Pres. Trump continued by sharing some details on Warsh’s background, that he had studied under economic giant Milton Friedman, and there also was a lighthearted quip about the new chair’s familiarity with the WH as a former senior advisor:

“He knows the White House very well, the president said. “He’s walking through the White House, and he’s pointing [out] things to me that even I didn’t know.” But there was a serious moment, as Trump noted Warsh had spent 15 years as a Fed governor, beginning at age 35.





As we previously wrote, on May 13 came the news Pres. Trump had hoped for, the announcement of Warsh’s confirmation by Senate, with Fed Chair Jerome Powell heading out the door later that same week. Readers might recall some of the verbal tiffs between Trump and Powell on the interest rate and the president’s tariffs policies, and that until a few months ago, the Fed chairman was under investigation by the Justice Department over the costly renovations to the central bank’s headquarters.

Read More: It’s Official: We Have a New Fed Chair As Jerome Powell’s Long Farewell Finally Comes to an End

Federal Prosecutors Launch Criminal Investigation Into Fed Chair Jerome Powell

In his remarks Friday, Trump got in a last dig at the outgoing Powell’s tenure, and the Biden administration’s blowing up the U.S. economy with soaring inflation rates:

Read More: ‘Too Late Powell’ Leaves Rates Unchanged Again As Trump’s Pick for Successor Passes Crucial Senate Test

Trump’s Fed Chair Pick Has Fun at Elizabeth Warren’s Expense at Confirmation Hearing

“Kevin will restore confidence in the Fed, which is so important, among Americans all across the political spectrum,” Trump added, saying that “people from all over the world…will be looking to [Warsh], probably and possibly more than anyone who has ever had your esteemed position.”





Trump recognized with care in how he spoke that Warsh will be independent in his new role at the Federal Reserve: 

Next, it was Warsh’s turn to speak. During his remarks, as Playbook noted, Warsh showed he plans on striking out on his own, as he should, name-checking someone who was seen as headstrong in the role – Alan Greenspan, who served five terms under four presidents starting in 1987 –  in his remarks:

There’s a new sheriff in town, Warsh made clear, auguring a “reform-oriented Federal Reserve.” Citing Alan Greenspan as a model, Warsh said the bank would tackle inflation and employment “with wisdom and clarity, independence” — there’s that word again — “and resolve.”

Warsh also said his duty was to surround his office with “the best people [doing] their life’s best work,” and focusing on “the national interest,” with a goal of “excellence” every day:





The new Fed chair recognized the “special moment” of the event, but said “after we leave this stage, the real work begins. So let’s begin that work. It’s an honor. Thank you, Mr. President,” closing his speech then shaking Trump’s hand.

You can watch Warsh’s full remarks after getting sworn-in below:


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