There’s a new Fed Chair in town.
Kevin Warsh took his oath at the White House today, the first time a US president has rolled out the red carpet for the occasion since Alan Greenspan in 1987. It was also President Trump’s first public appearance with Warsh since he nominated him a year earlier. And so far at least, everyone’s playing nice.
Despite the president’s not-so-subtle expectations for Warsh to cut rates, he offered the new central bank boss this advice: “Be independent and just do a great job. Don’t look at me, don’t look at anybody, just do your own thing.”
Warsh vowed to live up those expectations in what proved to be a rare moment filled with warm and fuzzy vibes. What comes next though—with inflation, mortgage rates, and treasury yields all running hot in recent weeks—could cut this honeymoon phase short early.
📸 : Getty
There’s a new Fed Chair in town.
Kevin Warsh took his oath at the White House today, the first time a US president has rolled out the red carpet for the occasion since Alan Greenspan in 1987. It was also President Trump’s first public appearance with Warsh since he nominated him a year earlier. And so far at least, everyone’s playing nice.
Despite the president’s not-so-subtle expectations for Warsh to cut rates, he offered the new central bank boss this advice: “Be independent and just do a great job. Don’t look at me, don’t look at anybody, just do your own thing.”
Warsh vowed to live up those expectations in what proved to be a rare moment filled with warm and fuzzy vibes. What comes next though—with inflation, mortgage rates, and treasury yields all running hot in recent weeks—could cut this honeymoon phase short early.
📸 : Getty
