Kevin Warsh
Incoming Federal Reserve Chairman Kevin Warsh will be sworn in at the White House on Friday to replace Jerome Powell, whose second term expired last week.
Trump has repeatedly clashed with Powell over his refusal to cut interest rates, and he has said he would be disappointed if Warsh does not cut rates immediately upon taking over at the Fed.
Various reports suggest that this will be one of the challenges Warsh faces upon being sworn in.
Per the Hill:
Kevin Warsh will face a political and economic obstacle course upon taking the helm of the Federal Reserve later this week.
Warsh is set to be sworn in by President Trump on Friday as the next chair of the Fed board, taking over the central bank at a pivotal time for the U.S. economy.
After years raging against outgoing Fed Chair Jerome Powell, Trump made clear before Warsh’s nomination that he would only consider candidates he could trust to cut interest rates.
Spiking inflation and divides among Fed officials, however, could make it impossible for Warsh to appease the president while fulfilling his duties as Fed chair.
Other obstacles speculated to play a role in Warsh’s tenure include the Iran war, tariffs, a divide among Fed officials, and legal battles, most notably over Trump’s firing of Fed Governor Lisa Cook.
As The Gateway Pundit reported, the Senate voted 54-45 to confirm Warsh last week after the Justice Department last month dropped its criminal investigation into Fed Chairman Jerome Powell, which RINOs made a key issue in Warsh’s confirmation.
MORE:
Senate Confirms Kevin Warsh as Fed Chairman in 54-45 Vote
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