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New York —
Kevin Warsh, the new Trump-appointed Federal Reserve chair, officially takes over Monday for the other Trump-appointed Fed chair, Jerome Powell, whose term is up after eight years.
Now, overseeing the most important central bank in the world is a tough gig under the best of circumstances. Taking it over now — two and a half months into a war that’s sent consumer prices surging, and with his predecessor lingering on the board of governors to try to fend off unprecedented threats to the bank’s independence — is, shall we say, shy of ideal.
This week, a series of economic reports made clear just how much of a pickle the US economy is in and just how hard it will be for Warsh to do the one thing the president expects of him: lower interest rates to juice economic growth.
