In a surprise twist, Kevin Warsh assumes leadership of the US Federal Reserve, as a keynote address by former President Trump sparks controversy with startling policy reversals.

US President Donald Trump made noteworthy remarks about the new Federal Reserve Chairman Kevin Warsh at a ceremony held at the White House.

Trump said Warsh “will be remembered as one of the best Fed chairmen in history.” In his speech, Trump argued that he wanted Warsh to act independently, saying, “Don’t look at me, do your own job.” The US President also maintained that the Fed would make its decisions completely independently and that Warsh would restore the institution’s reputation.

Trump, also commenting on the economy, said that economic growth does not necessarily mean inflation. Referring to the rise in US stock markets, Trump stated that the markets were reacting positively to Warsh, saying, “The stock market can perform much better, and I think Kevin Warsh will make that happen.”

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In his speech, Trump also touched on foreign policy, saying that Iran was “very eager” to make a deal. He also recounted telling Chinese President Xi Jinping that the US has the most powerful military in the world.

Kevin Warsh, who officially became the head of the US Federal Reserve after taking the oath at the ceremony, said in his short speech, “We are in a period that will have great consequences.”

Kevin Warsh, in statements following his swearing-in ceremony at the White House, said he aimed to fulfill his duties “with energy and a sense of purpose.” Warsh acknowledged the challenges facing the U.S. economy, stating, “I’m not naive about the challenges we face.” Despite this, he delivered optimistic messages, arguing that the coming period could offer historic opportunities for the U.S. economy. The new Fed chairman said, “These years could bring an unparalleled period of prosperity.”

*This is not investment advice.