WATCH: Kevin Warsh sworn in as chairman of the Federal Reserve

Associated Press Associated Press President Donald Trump hosted a swearing-in ceremony for Kevin Warsh as new Fed chair on Friday. Watch in our video player above. The East Room was packed for the ceremony, which usually is held at the Federal Reserve Building. WATCH: Jerome Powell's impact and legacy at the Federal Reserve Among those attending were Kevin Hassett, director of the National Economic Council and at one point a top contender to succeed Jay Powell as Fed chair, until Trump decided he wanted to keep Hassett at the White House. Supreme Court Justice Clarence Thomas delivered the oath. Supreme Court Justice Brett Kavanaugh was also present, as were members of Trump's Cabinet, other top Trump administration officials, and current and former members of Congress. Subscribe to Here’s the Deal, our politics newsletter for analysis you won’t find anywhere else. Trump opened with praise for Warsh, predicting that he "will go down as one of the truly great chairmen of the Federal Reserve." "I think he's got abilities that very few people have," Trump said. "I really mean this. This is not said in any other way," Trump said. "I want Kevin to be totally independent. I want him to be independent and just do a great job." "Don't look at me, don't look at anybody. Just do your own thing and do a great job, O.K.?" he added. The pressure Trump placed on outgoing Fed chair Jay Powell to lower interest rates raised questions about the independence of the Federal Reserve. Warsh said it was an honor to be sworn in by his "esteemed friend," Thomas. He explained Kavanaugh's presence by telling the audience the two of them had worked at the White House earlier in their careers. He's also talking about former Fed chair Alan Greenspan, calling him an idol. Greenspan was sworn in at the White House by President Ronald Reagan. Warsh said that, like Greenspan, he intends to fill the role of Fed chair "with energy and purpose." Warsh, in his remarks, said he saw Greenspan as a model for the role, explaining that the Fed can help with the nation's prosperity. "Our mandate at the Fed is to promote price stability and maximum employment. When we pursue those aims with wisdom and clarity, independence and resolve — inflation can be lower; growth, stronger; real take-home pay, higher," Warsh said. Support trusted journalism and civil dialogue. Associated Press Associated Press Support Provided By: Learn more Subscribe to Here’s the Deal, our politics newsletter for analysis you won’t find anywhere else.