Trump swears in Kevin Warsh as new Federal Reserve chair, replacing Jerome Powell
- On Friday, Supreme Court Justice Clarence Thomas swore in Kevin Warsh as the 17th Federal Reserve Chair during a White House ceremony, succeeding Jerome Powell.
- The White House ceremony marks the first such event since Republican President Ronald Reagan swore in Alan Greenspan in 1987. President Donald Trump, who exerted pressure on Powell to reduce rates, insisted Warsh remain "totally independent."
- Warsh faces inflation above the Fed's 2% target for more than five years, worsened by the Iran war pushing energy prices higher. He promised a "reform-oriented" approach, including a "regime change" to reduce the Fed's balance sheet, currently about $6.7 trillion.
- White House economic advisor Kevin Hassett said he hoped Powell would soon "step aside," even as the former chair plans to remain on the board. Critics worry the Fed may struggle to set rates free from political pressure.
- Warsh insisted at his confirmation hearing that he would "absolutely not" be a puppet for Trump. The president urged him to let the economy "boom," expressing faith that Warsh would prioritize growth while managing inflation.
357 Articles
357 Articles
PETER NAVARRO: Powell’s shadow Fed majority could threaten jobs, housing and growth
Kevin Warsh has now been sworn in as the new Federal Reserve Chair. Outgoing Chair Jerome Powell has refused to leave the Fed Board of Governors, breaking with the modern custom that departing Fed chairs leave the Board rather than linger as rival power centers. The clear danger: Powell will have enough Board support to act as Fed Shadow Chair and force a series of rate hikes down Warsh’s throat. Never mind that even a single rate hike would b…
Prediction: It's Only a Matter of Time Before President Donald Trump and Fed Chair Kevin Warsh Are Butting Heads -- and Wall Street May Be the Big Loser
Key PointsJerome Powell's final day as Fed chair was May 15, with Trump nominee Kevin Warsh becoming the 17th head of the Fed.Public disagreements over interest rates between President Trump and Powell were commonplace over the last year.Warsh's historically hawkish FOMC voting record, his criticism of the central bank's bloated balance sheet, and the Iran war's inflationary impact all point to Warsh and Trump publicly feuding over interest rate…
New Fed Chair Kevin Warsh Will Cut Interest Rates: Analyst
Kevin Warsh, who was sworn in as the chairman of the United States Federal Reserve on Friday, will likely slash interest rates, despite the “consensus” view that he will raise interest rates, according to author, Bitcoin investor and market analyst Lawrence Lepard. Lepard said that comments from other US officials, including Kevin Hassett, the director of the White House National Economic Council, and Treasury Secretary Scott Bessent, support th…
Hastings Tribune
The Guam Daily PostWarsh’s Fed ‘regime change’ may require patience, consensus
Kevin Warsh has vowed to usher in “regime change” as the new chair of the Federal Reserve, but Fed watchers say there are limits to how much he can revamp on his own — and that even in areas where…
Trump on new Fed Chair Kevin Warsh: 'Do your own thing' but don't lose your way like Jerome Powell did
President Donald Trump on Friday oversaw the White House swearing-in of the new Federal Reserve chair and said he would like Kevin Warsh’s help in stimulating the economy even as he tried to emphasize that the nation’s central bank would remain independent. Trump spent months criticizing Warsh’s predecessor, Jerome Powell, for being reluctant to cut interests rates, with the Republican president arguing that lower borrowing costs would provide a…
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