Kevin Warsh confirmed as Fed Chair in most divisive vote ever

0 May 13, 2026 18:30

#fed #kevinwarsh #inflation #interestrates
May 13, 2026 – The Federal Reserve officially has a new leader.

Kevin Warsh has been confirmed by the US Senate as the next chair of the Federal Reserve in one of the most divisive Fed confirmation votes in modern history. But he’s stepping into the role at a difficult moment for markets and the economy.

Inflation has now remained above the Fed’s 2% target for five straight years, oil prices are climbing because of tensions in the Middle East, and investors are rapidly rethinking expectations for interest rate cuts.

Yahoo Finance Fed correspondent Jennifer Schonberger explains.

#economy #stocks #finance #markets #federalreserve
Chapters
00:00 Kevin Warsh confirmed as Fed chair
00:50 Why the Senate vote was so divisive
02:05 Why inflation complicates Warsh’s start
03:40 The challenge of cutting interest rates
05:10 Why Jay Powell is staying at the Fed
06:53 When Warsh officially takes office

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