The United States Senate confirmed Kevin Warsh this Tuesday for a 14-year term as a Federal Reserve (Fed) governor. With a 51-45 vote result, which included key support from Democrat John Fetterman, Warsh is now positioned to assume the central bank presidency once Jerome Powell’s term expires at the end of this week.
The transition takes place in a context of high political and economic tension. Warsh, who has advocated for a “regime change” at the Fed, proposes greater coordination with the Treasury and an aggressive reduction of the balance sheet. However, his arrival coincides with an inflation spike to 3.8% driven by the conflict in Iran, complicating the rate cut plans expected by the markets and the Trump administration.
The next major event is scheduled for Wednesday, May 13, involving the vote for the Fed presidency. The change of command will mark the beginning of a new era in U.S. monetary policy, where institutional independence will face its greatest test against external pressures and energy sector volatility.
Source:https://n9.cl/0ldmg
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