Odds against rate cuts high as new US Fed chair set for swearing in
Many experts voiced concerns that the confirmation of Kevin Warsh as Federal Reserve chair would lead to uncertainty about the central bank’s independence, particularly in setting interest rates.
Kevin Warsh is set to be sworn in as the next chair of the US Federal Reserve Board of Governors on Friday amid speculation about whether he’ll do what US President Donald Trump hopes he does: Lower interest rates once in office.
On Wednesday, the US Senate voted largely along party lines to confirm Warsh as the next Fed chair, succeeding Jerome Powell. While Trump nominated both Fed governors in different terms, the president repeatedly threatened to fire Powell in recent months, saying that the Fed chair “should be lowering interest rates.”
Source: Kalshi