Kevin Warsh officially assumed his role as the 17th chairman of the Federal Reserve during a formal ceremony held at the White House.Supreme Court Justice Clarence Thomas administered the oath of office while President Donald Trump signaled support for the central bank's independence.The new chairman inherits a complex economic landscape defined by inflation at 3.8 percent and ongoing fallout from the war in Iran.Market analysts anticipate that the former Fed governor will likely prioritize price stability over the aggressive interest rate cuts requested by the administration.