Kevin Warsh was officially sworn in as the 17th Chairman of the Federal Reserve System (FED) in an institutionally significant ceremony held in the East Room of the White House.
The official event was marked by the swearing-in of the Constitution by Supreme Court Justice Clarence Thomas in the presence of state officials and President Donald Trump.
In his acceptance speech, Warsh, who loves Bitcoin (BTC) and cryptocurrencies, outlined a roadmap for his role as head of the world’s most influential central bank. It promised a break with the agency’s traditional methodology.
“I will lead a reform-minded Fed that has learned from both our past successes and failures,” the new official declared, also stressing the urgency to “move away from static frameworks and models.” Modernizing monetary policy in the face of global challenges.
The new Fed president also emphasized strict adherence to the Fed’s dual mandate, which focuses on promoting price stability and maximum employment. He expressed confidence that through “decisions based on wisdom, independence and determination” it will be possible to curb inflation and boost economic growth. and visibly raise real wages. of the American people.
Although he did not mention cryptocurrencies, Warsh has become part of the ecosystem by investing a portion of his assets, approximately $100 million, in these assets. In the past, he has declared Bitcoin to be a “significant asset,” and has become known among industry entrepreneurs as “the Fed’s first pro-Bitcoin governor.”
“Warsh is a special person.”
Meanwhile, President Donald Trump praised Warsh’s career and profile, calling him “exceptional” among a select group of candidates with “the highest academic and professional qualifications.”
In his speech, the president emphasized the impact of the Fed’s decisions on the real economy and stressed that the central bank’s direction requires a “firm hand.” It’s a level of unanimous respect that Mr. Trump believes Mr. Warsh has.
Similarly, the president used this scenario to reexamine the bumper crop the country is experiencing from his perspective, citing historic stock market records, sustained growth in private sector employment, and foreign investment that reached $18 trillion last year thanks to tariff and deregulatory policies.
He concluded by saying that under the leadership of the new Fed chair, the future of the U.S. economy will be “truly limitless.”
Mr. Warsh’s appointment to the helm of the FED opens a new phase of great expectations within the financial markets, particularly within the digital asset and cryptocurrency communities. Because of our historical position of openness to financial innovation.
Following Warsh’s inauguration at 11:30am in Washington DC, the price of BTC experienced some volatility, rising from $76,600 to $77,000 in a matter of minutes, before dropping again and rising to $76,900 as of this report, as seen in the graph below.
At the end of the event, the now central bank governor acknowledged the magnitude of his responsibility and called for immediate action, concluding with: “Once we get through this stage, the real work begins. Now, let’s get to it.”
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