USA: The new Fed chairman wants to lead an institution ‘focused on reforms’

The new chairman of the Federal Reserve (Fed), Kevin Warsh, was sworn in on Friday at the White House, a first in nearly 40 years, defending in the presence of Donald Trump an institution he wants to ‘oriented towards reforms’.

The new chairman of the Federal Reserve (Fed), Kevin Warsh, was sworn in on Friday at the White House, a first in nearly 40 years, defending in the presence of Donald Trump an institution he wishes to be ‘oriented toward reforms.’ ‘In order to fulfill this mission, I intend to lead a Federal Reserve oriented toward reforms, learning from its successes and past mistakes and adhering to clear standards of integrity and performance,’ Mr. Warsh said in his speech. He called on the Fed governors to pursue their objectives ‘with wisdom, clarity, independence, and determination,’ adding that ‘inflation can be lower, growth stronger, real wages higher, and the United States more prosperous.’