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Former Federal Reserve Chairman Alan Greenspan was sworn in at the White House in 1987, and every chairman since has held the ceremony at the Federal Reserve Building. The move highlighted the agency’s independence from the executive branch, which has grown more testy during the second Trump administration. On Friday, new Federal Reserve Chairman Kevin Warsh returned the ceremony to the East Room.

“I intend to fill the role of chairman with energy and purpose, just the way Chairman Greenspan did, faithful to the mission and the very best conditions of the Fed,” Warsh said after taking the oath of office. “As you demonstrate, Mr. President, every day, energy and purpose are how big obstacles are overcome.”

Every branch of government was represented in the audience, from former House Speaker Kevin McCarthy to Cabinet officials and Supreme Court Justices Brett Kavanaugh and Clarence Thomas.

His nomination also highlights the battles President Donald Trump has waged with the Federal Reserve.

“Thankfully, unlike some of his predecessors, Kevin understands that when the economy is booming, it is – that’s a good thing,” Trump said in his opening remarks. “We don’t have to go crazy, just let it boom.”

Warsh previewed that his chairmanship will be reform-oriented and will promote price stability and maximum........

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