PANews reported on May 23 that Kevin Warsh has been officially sworn in as Chairman of the Federal Reserve. In his inaugural address, Warsh stated that the United States is at a crucial moment, thanked President Trump for his trust, and pledged to serve with full energy and a strong sense of mission. He emphasized that the Fed will learn from past mistakes and successes to promote a reform-oriented central bank governance framework. Warsh also stated that inflation is expected to decline further, the economy will maintain strong growth, and he anticipates "unparalleled prosperity" in the United States over the next few years, but acknowledged that many challenges remain.