Kevin Warsh was sworn in as the new Federal Reserve chair, with President Donald Trump publicly emphasizing both economic stimulus goals and central bank independence. The announcement comes amid energy-price and inflation concerns tied to the Iran war and renewed market volatility. Trump said he wants Warsh to prioritize a strong economy without “going crazy,” while stressing independence from political pressure. Supreme Court Justice Clarence Thomas administered the oath, with prominent officials including House Speaker Mike Johnson and CIA Director John Ratcliffe attending. The leadership transition is occurring as Trump had criticized former Chair Jerome Powell’s reluctance to cut rates, and as the White House’s approach to the Fed has drawn scrutiny—raising continuing questions about institutional independence. Economists and former Fed officials have also expressed concerns about how the new chair communicates policy, with one Fed alumnus warning that reversing transparency practices would be difficult to unwind.