WASHINGTON, May 22 (Xinhua) -- Kevin Warsh was sworn in as chair of the Board of Governors of the U.S. Federal Reserve System during a White House ceremony on Friday, beginning a four-year term.
"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," said Warsh after he took the oath.
"Today marks a return to an institution that I do, in fact, cherish," said Warsh, who previously served as a Fed governor from 2006 to 2011.
"I want Kevin to be totally independent. I want him to be independent and just do a great job. Don't look at me, don't look at anybody," said U.S. President Donald Trump at the ceremony.
Trump said the Fed lost its way in recent years and became distracted by concerns far removed from its core mission and mandate, drifting into matters such as climate policy and Diversity, Equity and Inclusion initiatives introduced during the Joe Biden administration.
