President Donald Trump swore in Kevin Warsh as the new chairman of the Federal Reserve during a ceremony at the White House on Friday.

The appointment comes at a critical juncture for U.S. monetary policy, where the relationship between the executive branch and the central bank often determines market stability. By emphasizing independence, the president is signaling a desire to avoid the political friction that has characterized previous administrations' interactions with the Fed.

During the event, Trump addressed the role of the central bank and its leadership. "I want him to be totally independent," Trump said.

Warsh now serves as the 11th chairman of the Federal Reserve [1]. The transition occurs as the administration seeks to ensure the Fed operates without political pressure, a point Trump highlighted during the proceedings.

Reports on the ceremony differed regarding the administration of the oath. While some reports indicate President Trump swore in Warsh, other accounts said that Supreme Court Justice Clarence Thomas administered the oath of office.

Warsh took office as chairman of the Federal Reserve during the White House ceremony led by President Donald Trump, according to reports from the Financial Express. The event marks the formal start of his tenure leading the nation's most powerful economic institution.

“"I want him to be totally independent."”

The emphasis on independence is a strategic move to reassure global financial markets that the Federal Reserve will maintain its mandate of price stability and maximum employment without direct interference from the White House. While the president's public support for an independent Fed suggests a hands-off approach, the appointment of a specific ally like Warsh creates a nuanced dynamic between the administration's economic goals and the central bank's autonomous decision-making process.