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Kevin Warsh Is Now Leading the Fed. His Main Challenge Is a Doozy.
Warsh takes over as investors keep chasing AI gains, while bond traders price a 4.57% 10-year Treasury yield and slower Fed easing.
- Federal Reserve Chairman Kevin Warsh took the oath from Supreme Court Justice Clarence Thomas on Friday in the White House East Room, vowing to be a reform-oriented leader as the 17th Fed chair.
- Trump's long campaign against former Fed Chair Jerome Powell, appointed in 2018 and repeatedly threatened with firing over rate decisions, culminated in Warsh's appointment after Senator Thom Tillis advanced the nomination once the Department of Justice dropped its probe into Powell in late April.
- Senator Elizabeth Warren questioned Warsh's independence Friday morning, alleging he would prioritize Trump's political interests, though Trump publicly stated he wants Warsh to be "totally independent" and "just do a great job."
- Bond investors are repricing long-term risk as the 10-year Treasury yield rose 27 basis points to 4.57%, signaling higher-for-longer rates, while the S&P 500 climbed 9% year to date on AI enthusiasm and the VIX remained at 16.76, down 14% over the past month.
- Warsh inherits persistent inflation with Core PCE at its highest twelve-month level and limited rate-cut capacity, as JPMorgan expects only 2 to 3 cuts through 2026 while Trump faces economic headwinds with midterms less than six months away.
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Trump says Kevin Warsh will be ‘totally independent’ as he’s sworn in as Fed chair • Oklahoma Voice
Kevin Warsh, left, takes the oath of office from U.S. Supreme Court Associate Justice Clarence Thomas, right, as Warsh's wife Jane Lauder looks on during his swearing-in ceremony to be the new chairman of the Federal Reserve in the East Room of the White House on May 22, 2026 in Washington, D.C. (Photo by Anna Moneymaker/Getty Images)WASHINGTON — Kevin Warsh assumed his new role as chair of the Federal Reserve Friday after a swearing-in ceremon…
Coverage Details
Total News Sources20
Leaning Left4Leaning Right4Center4Last UpdatedBias Distribution34% Left, 33% Center, 33% Right
Bias Distribution
- 34% of the sources lean Left, 33% of the sources are Center, 33% of the sources lean Right
34% Left
L 34%
C 33%
R 33%
Factuality
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