Trump with Warsh at the White House in Washington, D.C. May 22, 2026. REUTERS/Jonathan Ernst
"Kevin understands that when the economy is booming that is a good thing...we want it to boom...We don’t want to see it stifled."
That's what Donald Trump said at the swearing-in ceremony for new Fed Chair Kevin Warsh.
Former chair Jerome Powell was a handy foil for Trump, a target of blame for everything from high mortgage interest rates to the pace of economic growth.
The president could say Powell was foisted on him by advisers. But Warsh is Trump's pick, and that means Trump owns the results.
But with Warsh installed as the country's central bank chief, the dynamic shifts.
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