1 of 3 | Kevin Warsh (L) takes the oath of office as he is sworn in as the new chairman of the Federal Reserve by U.S. Supreme Court Associate Justice Clarence Thomas in the East Room of the White House in Washington, D.C., on Friday. Photo by Yuri Gripas/UPI | License Photo
May 22 (UPI) -- Kevin Warsh was sworn in as the new chairman of the Federal Reserve on Friday.
Supreme Court Justice Clarence Thomas oversaw the swearing-in in a ceremony at the White House. President Donald Trump was in attendance.
Warsh promised to oversee "a reform-oriented Federal Reserve" after months of head-butting between Trump and former Fed Chairman Jerome Powell. The president, who nominated Powell to lead the central bank during his first term, has repeatedly criticized him over his interest rate policy decisions.
"While I'm not naive about the challenges we face, I believe, Mr. President, these years can bring unmatched prosperity that will raise living standards for Americans from all walks of life, and the Fed has something to do with it," Warsh said during the ceremony.
