All posts tagged: Warsh

Trump swears Kevin Warsh in as Fed chair, seeking interest rate cuts

Trump swears Kevin Warsh in as Fed chair, seeking interest rate cuts

Published by Sam Flores

President Donald Trump led a ceremony swearing in Kevin Warsh as chair of the Federal Reserve, putting him in charge of a central bank that must navigate a tumultuous economy and a president with very specific expectations on interest rates. Trump, whose actions toward the Fed have spurred bipartisan alarms about executive influence on the historically independent central bank, said he wanted Warsh to “just do your own thing and do a great job.” “I want Kevin to be totally independent,” Trump said at the start of the event Friday morning. “Don’t look at me, don’t look at anybody.” But the swearing-in ceremony itself highlighted the the president’s unprecedented involvement with the Fed during his second term: Warsh is the first Fed chair to be sworn in at the White House since Alan Greenspan in 1987. The event in the East Room was attended by a range of high-profile figures, including Supreme Court Justices Clarence Thomas and Brett Kavanaugh, House Speaker Mike Johnson and many other politicians and Cabinet officials. Thomas delivered the oath to …

Warsh to Be Sworn in as Fed Chair at White House on Friday

Warsh to Be Sworn in as Fed Chair at White House on Friday

Published by Sam Flores

WASHINGTON, May 18 (Reuters) – Kevin Warsh will be sworn in as U.S. Federal Reserve chief ⁠on ⁠Friday by President Donald Trump, a White House official ⁠said on Monday, putting the 56-year-old lawyer and financier at the helm of the central bank as it grapples ​with intensifying inflation that may make it hard to push through the interest-rate cuts Trump desires. Warsh is succeeding Jerome Powell, whose eight-year run as Fed leader formally expired on ‌Friday, although he plans to remain as a ‌Board of Governors member until he is satisfied that a Trump administration criminal probe of him is fully wound down. Powell was sworn in as temporary chair on ⁠Friday to bridge the ⁠leadership gap until Warsh is formally installed. The investigation into Powell, centering on cost overruns for building ​renovations at the Fed’s Washington headquarters complex, became a temporary obstacle to Warsh’s confirmation by the Senate. The probe was settled to the satisfaction of an objecting Republican senator, however, and the full Senate confirmed Warsh on an almost party-line vote on May …

Trump and Xi meet; Law firms; Kevin Warsh; Nebraska : NPR

Trump and Xi meet; Law firms; Kevin Warsh; Nebraska : NPR

Published by Sam Flores

Good morning. You’re reading the Up First newsletter. Subscribe here to get it delivered to your inbox, and listen to the Up First podcast for all the news you need to start your day. Today’s top stories President Trump arrived in Beijing and met with Chinese President Xi Jinping. The U.S. says the leaders discussed expanding American products into China. Meanwhile, China says its president repeated a warning to the U.S. over Taiwan. President Trump shakes hands with Chinese President Xi Jinping during a state banquet at the Great Hall of the People on May 14, 2026, in Beijing, China. Alex Wong/Getty Images hide caption toggle caption Alex Wong/Getty Images 🎧 Xi said that if the U.S.’s relationship with Taiwan isn’t handled well, the U.S. and China could clash, jeopardizing their relationship. Taiwan is considered one of the U.S.’s security partners. Taiwan’s Foreign Minister Lin Chia-lung expressed doubts that Taiwan is a priority on the U.S. agenda, which is focused on trade and Iran. The U.S. government maintains that its policy toward Taiwan has not changed. Japan, which is …

Trump finally gets his man at the Fed. Will Kevin Warsh disappoint him?

Trump finally gets his man at the Fed. Will Kevin Warsh disappoint him?

Published by Sam Flores

Kevin Warsh, nominee for chairman of the Federal Reserve, is sworn in to his Senate Banking, Housing and Urban Affairs Committee confirmation hearing in Dirksen building on Tuesday, April 21, 2026. Tom Williams | Cq-roll Call, Inc. | Getty Images It has taken eight and a half years, but on Wednesday President Donald Trump finally succeeded in reversing one of the few mistakes he has admitted to making as president. In November 2017, Trump chose Jerome Powell to chair the Federal Reserve, opting for someone he saw as malleable over a charismatic but youthful former Fed governor, Kevin Warsh. Trump has regretted it ever since. The question that has consumed the markets as the Senate moved toward Wednesday’s confirmation is whether Trump will come to regret this decision, too. Fed chairs “change once they get the job,” Trump said in January. If Warsh loses Trump’s backing, the new Fed chair may not have the bulwark of congressional support that helped Powell resist Trump.  Whether Warsh can succeed in the mission of “regime change” he has …

Trump finally gets his man at the Fed. Will Kevin Warsh disappoint him?

Senate confirms Kevin Warsh as Fed governor, clears way for chair vote

Published by Sam Flores

Kevin Warsh took another step toward becoming Federal Reserve chair on Tuesday, clearing a key Senate vote that puts him on the central bank’s Board of Governors. The upper chamber voted to approve Warsh’s nomination by a 51-45 vote, on a mostly party-line basis. Only Sen. John Fetterman, D-Pa., crossed lines to vote for President Donald Trump’s pick. Next up for the nominee, who sat on the board from 2006 to 2011, is the vote to be chair, which is expected Wednesday. Terms for governors last 14 years, while the chair’s term goes for four years. Warsh’s vote also means the end of Stephen Miran’s brief term on the board. Miran also was a Trump nominee and filled the seat vacated by Adriana Kugler, who resigned in August 2025. Read more CNBC politics coverage Assuming confirmation, Warsh, 56, will take over for Jerome Powell, whose 8-year stint at the helm will officially end Friday. However, Powell’s term on the board doesn’t end until 2028, and he has indicated he will stay on until a probe …

When The Persian Gulf Supply Shock Meets The Warsh Fed: Stagflation & The Coming AI Bubble Bust

When The Persian Gulf Supply Shock Meets The Warsh Fed: Stagflation & The Coming AI Bubble Bust

Published by Jenni Sidey

Authored by David Stockman via InternationalMan.com, Here is a salient place to start regarding the economic impact of the Donald’s misbegotten war on Iran: To wit, approximately 7 billion ton-miles of freight moves by truck each and every day in the USA, which heavy truck fleet consumes upwards of 2.9 million barrels per day (mb/d) of diesel fuel. Alas, the price of diesel fuel was about $3.55/gallon both a year ago and as of early January 2026, but has since soared by more than+$2.00 per gallon to around $5.60 recently. That’s a 56% rise in the cost of pumping goods and commodities through the arteries of the US economy. On an annualized basis, the diesel fuel bill for the US truck fleet went from $155 billion per year to $250 billion per year at current oil prices. The big question, of course, is through which channel these drastically higher fuel acquisition costs will be absorbed—in higher prices or reduced output? And that pertains not just to the microcosm of the trucking sector, but the entire GDP now being battered …

Warsh on Deck While Powell Remains

Warsh on Deck While Powell Remains

Published by Sam Flores

WASHINGTON (AP) — President Trump’s pick to lead the Federal Reserve, Kevin Warsh, has said he wants to bring “regime change” to the central bank, but if confirmed by the Senate he will find a Fed already transformed by the White House’s attacks. For the first time in almost five decades, there will be a former chair on the central bank’s board, potentially creating an alternate center of power. And on Wednesday multiple officials dissented from the Fed’s statement, a sign they won’t easily roll over for a new chair who has sharply criticized recent policy. Outgoing chair Jerome Powell — who announced he will remain on the board of governors for a “period of time, to be determined” — has also shown a new outspokenness since the White House launched an unprecedented legal investigation into a Fed building renovation. Warsh “is inheriting an institution that will fight for independent, consensus-driven decision-making, a potential obstacle to his vision of wholesale ‘regime change,’” said Jon Hilsenrath, a senior advisor to StoneX and visiting scholar at Duke …