Kevin Warsh sworn in, he is the new Federal Reserve Chairman

Kevin Warsh is officially the new chairman of the Federal Reserve after he was just sworn in at the White House as the top US central banker.

"Our mandate at the Fed is to promote price stability and maximum employment. When we pursue these goals wisely and clearly, with independence and resolve, inflation can be more contained and growth more robust," Warsh said at the swearing-in ceremony, assuring a "reform-oriented approach".

Warsh's oath of office is the first taken at the White House since Alan Greenspan in 1987. The newly appointed Fed chairman appeared for the first time at a public event alongside President Donald Trump since the tycoon nominated him in January after a public selection process that lasted several months.

"Real net income can increase, America can become more prosperous and, no less important, its position in the world more secure. To accomplish this mission, I will engage on four fronts: learning from past successes and mistakes; avoiding rigid mind-sets; and maintaining clear standards of integrity and performance," added Warsh, who expressed special thanks to former Fed Chairman Alan Greenspan, a reference in every respect. "Just like Alan, I intend and am committed to serve as Chairman with energy and determination, just as Chairman Greenspan did, remaining true to the Fed's mission and noblest traditions," Warsh continued. "As you yourself demonstrate every day, Mr. Chairman, it is through energy and determination that the most daunting obstacles can be overcome. Your greatest ambitions are for America, for what free people can achieve when given the opportunity," he continued, addressing Trump. "And despite not being naive about the challenges we face, I believe, that these years can bring such prosperity as to raise the standard of living for Americans from all walks of life. And the Fed has a role in all of that," the newly appointed US central bank chief noted. "Finally, I just want to say that I will be looking around, trying to commit this special moment to memory; but once I leave this platform, the real work will begin. So, let's get this work started. It is an honour,' Warsh concluded, thanking Trump for his confidence in holding 'the job of a lifetime'.

"I want Kevin to be completely independent. I want him to be independent and do a great job. Don't look to me, don't look to anyone else, do your own work and do a great job."