What to Expect From Kevin Warsh’s Fed in the First 100 Days

(Roger W. Ferguson Jr. , Maximilian Hippold – Council on Foreign Relations) Kevin Warsh was sworn in as the new chair of the Federal Reserve on May 22, succeeding Jerome Powell at the helm of the world’s most consequential central bank. His confirmation appears to close an unusually turbulent chapter in the institution’s recent history. President Donald Trump had grown increasingly dissatisfied with Powell after nominating him during his first administration and intensified pressure throughout his second term. He publicly criticized interest rate decisions and at times floated the possibility of removing Powell, while the Department of Justice launched investigations into board member Lisa Cook over alleged mortgage fraud and into Powell himself over his handling of the renovation of the Fed’s Washington headquarters. Though the lawsuit against him has been dropped, Powell has indicated his intention to remain on the Fed’s Board of Governors until all outstanding investigations have been fully resolved. – What to Expect From Kevin Warsh’s Fed in the First 100 Days | Council on Foreign Relations