The Federal Reserve has a new boss, and he’s not here to maintain the status quo.
Kevin Warsh, who was confirmed by the Senate on May 13 with a 55-45 vote and sworn in as Fed Chair on May 22, 2026, has wasted little time making his intentions clear. He wants what he’s calling “regime change” at the central bank, a phrase that tends to make markets sit up and pay very close attention.
The first move: hold steady, then reshape everything
At his inaugural FOMC meeting on June 17, 2026, Warsh chose not to rock the boat on interest rates. The committee voted to keep the federal funds rate unchanged. Warsh used the meeting to signal that rate hikes may be necessary later in 2026 to combat rising inflation. He also announced the formation of task forces designed to examine major operational changes at the Fed.
Warsh previously served as a Fed governor from 2006 to 2011, a period that included the global financial crisis.
