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Kevin Warsh to be sworn in as Federal Reserve chair on Friday
Warsh takes over a divided Federal Reserve as inflation stays above the 2% target and markets price no rate cuts this year.
- President Donald Trump will swear in Kevin Warsh as Federal Reserve chair at the White House on Friday, breaking with decades of tradition when such ceremonies typically occurred at the central bank without the president.
- Trump nominated Warsh to replace Jerome Powell following years of friction over rate policy, as the 56-year-old financier takes the helm amid persistent inflation and Iran war fallout.
- The Senate confirmed Warsh last week in a 54-45 vote, the most divisive in modern Federal Reserve history, while Powell will remain on the Board of Governors through 2028 to maintain institutional continuity.
- Investors see roughly 97 percent odds the Federal Open Market Committee will hold rates steady at its June meeting, as Warsh faces pressure to cut rates despite stubborn inflation limiting his immediate options.
- Sticky inflation remains well above the Fed's 2 percent target, complicating Warsh's growth agenda, while analysts warn that rising semiconductor costs and supply chain pressures could further constrain his monetary options.
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Kevin Warsh takes over as Fed chair today — after first swearing-in at White House in 40 years
President Donald Trump will host a swearing-in ceremony for incoming Federal Reserve Chair Kevin Warsh at the White House on Friday, a White House official said. Article Attribution | Read More at Article Source The post Kevin Warsh takes over as Fed chair today — after first swearing-in at White House in 40 years appeared first on RocketNews.
Kevin Warsh to be sworn in as Fed leader amid inflation fears
Kevin Warsh, whose broad criticism of current U.S. Federal Reserve officials, playbook for rate cuts, and ties to President Donald Trump elevated him past other contenders to lead the central bank, will be sworn in as Fed leader Friday at a pivotal moment for monetary policy and the American economy. An unfolding boom in artificial...
Coverage Details
Total News Sources105
Leaning Left10Leaning Right27Center20Last UpdatedBias Distribution47% Right
Bias Distribution
- 47% of the sources lean Right
47% Right
L 18%
C 35%
R 47%
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