BREAKING: Clarence Thomas swears in Kevin Warsh as 17th Fed Chair

"With this oath, I've accepted a high and solemn responsibility," Warsh said as he was sworn in.

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"Our mandate at the Fed is to promote price stability and maximum employment," he added. "When we pursue those aims with wisdom and clarity, independence and resolve, inflation can be lower, growth stronger, real take-home pay higher and America can be more prosperous. And no less important, America's place in the world more secure."

Warsh said that he will "lead a reform-oriented Federal Reserve, learning from past successes and mistakes both, escaping static frameworks and models, and upholding clear standards of integrity and performance."

President Donald Trump introduced Warsh to the crowd in the White House East room, where there sat some of the Supreme Court justices, members of Congress, as well as members of the Cabinet. He took his oath of office with a Bible being held by his wife.

Warsh is being sworn in during what could be considered a pivotal time for the US economy as AI has increasingly become part of the market. At the same time there are worries for job prospects for the average worker, there have been massive strides in economic growth over the last year because of the investment in AI.

“I expect he will go down as one of the truly great chairmen of the Federal Reserve that we’ve ever had, I really believe that,” Trump said as Warsh was sworn in. “He’s got abilities that very few people have, covers a lot of territory, and he’s respected by everybody."

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