Justice Clarence Thomas, right, administers the oath during the swearing in of Kevin Warsh as Chairman of the Federal Reserve, left, as Warsh’s wife Jane Lauder looks on, in the East Room of the White House, Friday, May 22, 2026, in Washington. (AP Photo\/Alex Brandon)<\/small><\/p>\n
2026-05-22T17:22:51Z<\/p>\n
WASHINGTON (AP) \u2014 President Donald Trump<\/a><\/span> on Friday oversaw the White House swearing-in of the new Federal Reserve<\/a><\/span> chair and said he would like Kevin Warsh\u2019s<\/a><\/span> help in stimulating the economy even as he tried to emphasize that the nation\u2019s central bank would remain independent. <\/p>\n Trump spent months criticizing Warsh\u2019s predecessor, Jerome Powell<\/a><\/span>, for being reluctant to cut interests rates, with the Republican president arguing that lower borrowing costs would provide an economic boost. By taking the unusual step of holding the ceremony in the East Room and not the Fed, Trump made clear his pleasure that Warsh is now in charge.<\/p>\n The war with Iran<\/a><\/span> has caused gas prices to spike<\/a><\/span>, unsettled financial markets<\/a><\/span> and driven inflation concerns across the economy. Those developments have led to recent doubts about whether Warsh might heed Trump\u2019s calls and push the Fed to lower rates. <\/p>\n Still, Trump said he had faith that Warsh would prioritize a strong economy. <\/p>\n \u201cThankfully, unlike some of his predecessors, Kevin understands that when the economy is booming, it is, that\u2019s a good thing,\u201d the president said. Trump said it was not necessary \u201cto go crazy. Just let it go. We want it to boom.\u201d<\/p>\n Supreme Court Justice Clarence Thomas administered the oath of office. Also on hand were House Speaker Mike Johnson, R-La., Justice Brett Kavanaugh, CIA Director John Ratcliffe and Cabinet members.<\/p>\n