White House · Kevin Warsh · Federal Reserve (FED) · U.S. · US Senate · Axios
Kevin Warsh confirmed to lead Federal Reserve
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Kevin Warsh has been confirmed as the 17th leader of the Federal Reserve, becoming America's economist-in-chief at a moment of resurgent inflation, public discontent with the economy and unprecedented attacks on the Fed's independence.
Key facts
- Warsh was confirmed to a four-year term as Fed chair Wednesday by a 54-to-45 Senate vote
- Warsh was a Fed governor from 2006 to 2011, then the youngest on record, and was a close ally of chair Ben Bernanke in fighting the financial crisis
- Kevin Warsh has been confirmed as the 17th leader of the Federal Reserve, becoming America's economist-in-chief at a moment of resurgent inflation, public discontent with the economy
- Warsh has promised sweeping change at an institution that he argues has grown too unwieldy and inclined to intervene in the economy
Summary
Warsh was confirmed to a four-year term as Fed chair Wednesday by a 54-to-45 Senate vote. Warsh takes the helm of the central bank after Jerome Powell's term ends Friday. Warsh has promised sweeping change at an institution that he argues has grown too unwieldy and inclined to intervene in the economy. He inherits buoyant financial markets and an AI-driven growth surge — as well as the legacy of five straight years of elevated inflation that has spiked again due to the Iran war.