US Fed chair says will be 'reform-oriented' at glitzy White House swearing-in
Kevin Warsh was sworn in as the new U.S. Federal Reserve chair, emphasizing a reform-oriented approach. President Trump expressed his desire for Warsh to maintain independence while managing the economy. The Fed faces challenges with high inflation and inconsistent job growth as Warsh takes on his new role.
- ▪Kevin Warsh vowed to lead a reform-oriented Federal Reserve during his swearing-in ceremony at the White House.
- ▪President Trump praised Warsh and insisted on the importance of the Fed's independence.
- ▪The U.S. central bank is currently dealing with high inflation and fluctuating job growth.
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President Donald Trump, right, shakes the hand of Federal Reserve Chairman Kevin Warsh during Warsh's swearing-in in the East Room of the White House, Friday, in Washington. AP-YonhapWASHINGTON — New U.S. Federal Reserve chair Kevin Warsh vowed to be "reform-oriented" as he was sworn in at the White House on 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…
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