The first comment from Kevin Warsh after officially assuming the presidency of the US Federal Reserve

Warsh assumes the presidency of the Federal Reserve, in a tense economic context overshadowed by the war in the Middle East, with its repercussions on the American and global economy, especially the rise in inflation.

Kevin Warsh

Warsh confirmed during his inauguration that he will lead the central bank according to Reform orientation "Benefiting from previous successes and mistakes, going beyond rigid frameworks and models, and promoting clear standards of integrity and performance."

He called on the central governors to achieve their goals "With wisdom, clarity, independence and determination"adding "Inflation could be lower, growth could be stronger, net real wages could be higher, and America could be more prosperous" As a result.

This is the first time since the era of President Ronald Reagan that the Chairman of the Federal Reserve Board, which is the US central bank, has taken the constitutional oath in the White House, in the presence of the President.

The American Economy

This exacerbated the accusations directed at Warsh that he lacks independence, and Trump confirmed during the swearing-in that he wants Warsh to be "Completely independent".

He said "I want Kevin to be completely independent. I want him to be independent and just do great work". And he said to him "Don’t look at me, don’t look at anyone, just do what you see fit"

Trump does not hide his desire to influence monetary policy, as he has constantly called on the Federal Reserve to lower interest rates and accused its outgoing Chairman, Jerome Powell, of failing to do so.

US Monetary Policy

Also, Trump believes that monetary policy must support his political agenda by creating conditions to accelerate economic growth.

He considered Friday that the Federal Reserve "He has lost his way in recent years".

He said "Kevin realizes that a thriving economy is a good thing. We want to stop inflation, but we don’t want to stop greatness"

He added: "We have to act crazy, we just have to let it (the economy) flourish. We want him to thrive"

Rate cut

Warsh presented himself during a Senate hearing on April 21, as "independent"He stressed that he did not give any commitment to Trump regarding reducing interest rates.

He stressed that the independence of monetary policy "necessary"expressing his belief that she is not threatened, in reference to the president’s numerous statements.