00:00Thank you, Mr. President. This is above and beyond.
00:05It is such an honor for Jane and me to have this ceremony here in the East Room with you,
00:10sir.
00:11I couldn't ask for a more beautiful setting or a more gracious welcome, and I am grateful.
00:17I recognize, as the President said, that ours is a time of great consequence.
00:22It's also a great honor for me to have the oath of office administered by one of the great and
00:28longest serving public servants.
00:29A brilliant and independent thinker. A man dedicated to our Constitution.
00:36And, no less important, a joyful and collegial presence on our highest court.
00:42My esteemed friend, Justice Clarence Thomas.
00:57Now, Justice Kavanaugh is here as well.
01:00We served as young staffers a full generation ago in this building.
01:05And I shouldn't be speaking for another justice, but I will tell you something that I always felt.
01:11That Justice Kavanaugh and I felt the majesty of this place where we're now sitting.
01:17And we counted ourselves blessed and grateful to serve the nation we love and to do it in your building,
01:23sir.
01:24And, of course, I must thank Leader Thune, Chairman Tim Scott, and his fellow members of the Banking Committee, who
01:32saw me through the Senate confirmation.
01:35My whole family and I are joined by many others here today who I'm honored to call friends and colleagues,
01:42mentors, confidants.
01:44Their presence means a lot to me, and I think it means a lot to the President, too.
01:49It's the honor of a lifetime to be called back into public service.
01:54And with this oath, I've accepted a high and solemn responsibility.
02:00At the swearing of Alan Greenspan at this very place in 1987, President Ronald Reagan called the chairmanship of the
02:09Federal Reserve a, quote, great role in American life.
02:13I've known five of my predecessors in this job, some of them quite well.
02:19But Chairman Greenspan was the first to tell me and show me what this role demands.
02:26He recently marked his 100th birthday, and although he can't be here, I'm thinking about him today, too.
02:35Like Alan, I intend to fill the role of chairman with energy and purpose, just the way Chairman Greenspan did,
02:44faithful to the mission and the very best traditions of the Fed.
02:49As you demonstrate, Mr. President, every day, energy and purpose are how big obstacles are overcome.
02:58Your greatest ambitions are for America, for what free people can achieve when they have the chance.
03:06And while I'm not naive about the challenges we face, I believe, Mr. President, these years can bring unmatched prosperity
03:14that will raise living standards for Americans from all walks of life.
03:19And the Fed has something to do with it.
03:23Our mandate at the Fed is to promote price stability and maximum employment.
03:29When we pursue those aims with wisdom and clarity, independence and resolve, inflation can be lower, growth stronger, real take
03:41-home pay higher, and America can be more prosperous.
03:45And no less important, America's place in the world more secure.
03:49To fulfill this mission, I will lead a reform-oriented Federal Reserve, learning from past successes and mistakes both, escaping
04:00static frameworks and models,
04:02and upholding clear standards of integrity and performance.
04:07Today marks a return to an institution that I do, in fact, cherish.
04:12It was nearly a generation ago, at another time of great consequence, that I worked with some outstanding public servants
04:20at the Fed, both here in Washington and at the Reserve Banks.
04:24My goal now is to create an environment in which the best people can do their life's best work, and
04:32to face every challenge in the spirit of common purpose and devotion to the national interest, in a word, to
04:40excellence.
04:41These duties are now mine, Mr. President, because of the trust you have placed in me.
04:47I accept them with gratitude, and will strive every day to serve our fellow citizens well.
04:55And in final, I'll just say I'm going to look around and try to hold on to this special moment.
05:00But after we leave this stage, the real work begins.
05:04So let's begin that work. It's an honor. Thank you again, Mr. President.
05:08Thank you very much.
05:13Thank you very much.
05:14Thank you very much.
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