Kevin Warsh Sworn In as Fed Chair, Pledges Reform-Oriented Leadership

(CNA, Washington, May 22) New Federal Reserve Chair Kevin Warsh was sworn in at the White House today, stating that he will lead a "reform-oriented" US central bank. According to AFP, minutes after being sworn in, Warsh said: "To fulfill this mission, I will lead the Fed in reforms, drawing on past successes and failures, not limited by rigid structures and models, while adhering to clear standards of integrity and performance." He called on central bank officials to pursue policy goals with "wisdom, clear judgment, independence, and determination." Warsh stated: "If we can do this, inflation can be lower, economic growth can be stronger, real wages for the people can be higher, and the United States can be more prosperous."