Kevin Warsh became the new head of the US central bank
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During the ceremony, Trump emphasized the need for full independence of the central bank's leadership. However, the new Fed chief refused to be regarded as Trump's puppet. Warsh is an experienced banker and economist who has been active on the public scene for two decades and has extensive experience with public speeches and commentary on economic policy. Die Zeit ↗
Warsh will have to grapple with several challenges. The American economy continues to struggle with high prices stemming from the pandemic period, with inflation reaching a three-year high in April. Fed officials, including board member Waller, do not deny the potential need to raise interest rates in order to manage inflationary pressure. Trend ↗
As part of his new role, Warsh stated that the Fed does not need a revolution, signaling continuity in various aspects of monetary policy. As the new head of the central bank, he thus finds himself in a position where he will have to balance pressure for independent decision-making with the country's economic reality. idnes.cz ↗
On Record
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