PANews reported on May 23 that Trump, speaking at Warsh's inauguration ceremony as Federal Reserve Chairman, stated that Warsh understands that when the economy is doing well, it should be allowed to prosper. "We have some debt to deal with. The good performance of the stock market means that Warsh, the nominee for Federal Reserve Chairman, is popular. We will get rid of the debt through growth. Warsh, the nominee for Federal Reserve Chairman, will have the full support of my administration. We want to curb inflation, but we don't want to hinder our great progress. We don't want to stop economic growth. Warsh will bring reform and modernization to the Federal Reserve."