Trump’s New Fed Chief Kevin Warsh Promises ‘Reform-Oriented’ Central Bank Amid Rate Cut Pressure

Summary

Kevin Warsh was sworn in as Chairman of the US Federal Reserve Board of Governors. He pledged to lead a "reform-oriented" Federal Reserve, learning from past experiences. President Trump expects lower interest rates and stated he would be "disappointed" if Warsh did not move quickly on rate cuts. Warsh believes productivity gains from AI innovation could allow for rapid economic expansion without worsening inflation. The Fed Chair plays a central role in determining borrowing costs and managing inflation.