Kevin Warsh sworn in as Federal Reserve chair (opens in new tab)

Kevin Warsh was sworn in Friday as the 17th chair of the Federal Reserve, replacing Jerome Powell at a White House ceremony hosted by President Trump, with Supreme Court Justice Clarence Thomas administering the oath. Trump said he wanted Warsh to be “totally independent,” while Warsh said the Fed’s mandate remains price stability and maximum employment and pledged to lead a “reform-oriented Federal Reserve”. Warsh takes office with inflation above the Fed’s 2% target, consumer prices up 3.8%...