US Fed chair says he will be 'reform-oriented' at glitzy White House swearing-in
Kevin Warsh was sworn in as the new U.S. Federal Reserve Chair, promising to be reform-oriented. President Trump emphasized Warsh's independence while expressing his desire for economic growth. The Fed faces challenges with high inflation and inconsistent job growth as Warsh takes over.
- ▪Kevin Warsh vowed to lead a reform-oriented Federal Reserve during his swearing-in ceremony.
- ▪President Trump insisted that Warsh would be totally independent despite his previous pressures on the Fed.
- ▪The U.S. central bank is currently grappling with high inflation and a fluctuating labor market.
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President Donald Trump shakes the hand of Federal Reserve Chairman Kevin Warsh during Warsh's swearing-in at the East Room of the White House, Friday. AP-YonhapWASHINGTON — New U.S. Federal Reserve Chair Kevin Warsh vowed to be "reform-oriented" as he was sworn in at the White House, Friday, with President Donald Trump insisting the central bank chief would be "totally independent."Trump has exerted unprecedented pressure on the central bank to reduce interest rates, attempting to fire a Fed governor and pursuing a criminal probe against Warsh's predecessor Jerome Powell."To fulfill this mission, I will lead a reform-oriented Federal Reserve, learning from past successes and mistakes, both escaping static frameworks and models, and upholding clear standards of integrity and performance,"…
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