Kevin Warsh, the new “independent” president of the Federal Reserve

President Donald Trump presided over the inauguration of Kevin Warsh as the new leader of the Federal Reserve. The unusual and impressive ceremony was held this Friday at the White House. The 56-year-old economist formally took his oath of office before conservative Supreme Court Justice Clarence Thomas.

Trump stated at the event that he seeks completely independent management from the new official. The Republican president assured with full certainty that Warsh will restore confidence and safeguard the integrity of the banking institution. These statements mark a shift from the pressure the president exerted in the past on the previous administration.

In recent remarks, Warsh promised to defend price stability and maximum employment with autonomy. The new president of the Fed declared that these years will bring unparalleled prosperity for all sectors of society. The prominent ceremony at the seat of government broke with the traditionally low profile of these financial transitions.