Kevin Warsh officially took office as Chairman of the Federal Reserve (Fed), replacing Jerome Powell, amidst rising inflationary pressures in the US economy . Photo: Reuters
The swearing-in ceremony was held at the White House on May 22nd, presided over by US President Donald Trump. Speaking at the ceremony, President Trump affirmed that Mr. Warsh would receive the "full support" of the administration, and expressed his hope that the new Fed Chairman would help restore confidence in the US central bank. Mr. Trump also emphasized his desire for the Fed to lower interest rates in the near future to support economic growth.
For his part, Mr. Warsh pledged to lead the Fed toward reform while maintaining its independence in monetary policymaking. He emphasized that the Fed's core mission is to promote price stability and maximize employment. According to Mr. Warsh, the Fed will "learn from past successes and failures, break free from rigid frameworks and models, and maintain clear standards of integrity and performance."
The new Fed chairman believes that pursuing policy goals in a "wise, clear, independent, and decisive" manner will help reduce inflation, boost growth, raise people's real incomes, and strengthen America's position on the international stage.
President Donald Trump shakes hands with new Federal Reserve Chairman Kevin Warsh at the White House, May 22, 2026. Photo: The Guardian
Mr. Warsh took over the Fed amidst inflationary pressures on the US economy due to rising oil prices, energy costs, and service expenses. Following his inauguration, the Fed announced that the Federal Open Market Committee (FOMC) had unanimously elected Mr. Warsh as its chairman, giving him the authority to manage US interest rate policy.
Mr. Warsh's term lasts four years, and he is expected to chair the first FOMC meeting in the middle of next month. Having served on the Fed's Board of Governors from 2006 to 2011, Mr. Warsh is considered to have a hardline stance on inflation control.
Minh Phuong
Source: Reuters, CCTV
Source: https://baothanhhoa.vn/ong-kevin-warsh-chinh-thuc-nham-chuc-chu-tich-fed-288588.htm
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