Kevin Warsh has been Federal Reserve Chair for roughly three weeks. He’s already got the most powerful person on Earth breathing down his neck about interest rates.
Donald Trump has repeatedly urged Warsh to cut rates, framing lower borrowing costs as essential for the US economy. The problem? Inflation has surged to its highest level in three years, and market indicators are actually pointing toward rate hikes, not cuts.
The timeline that got us here
Trump nominated Warsh on January 30, 2026. The Senate confirmed him in May, and he was officially sworn in on May 22. For context, Warsh isn’t a stranger to the Fed. He served as a governor during the 2008 financial crisis and has long been considered a hawk-leaning voice in monetary policy circles.
Trump has called potential rate hikes “the wrong thing to do,” a phrase he’s deployed repeatedly in recent weeks as inflation data has worsened.
