Fed Chair Kevin Warsh Faces Supreme Court Test and ECB Symposium

Kevin Warsh was sworn in as Federal Reserve Chair on 22 May 2026, succeeding Jerome Powell. He announced the Fed would keep the federal‑funds target range at 3.5‑3.75 % and stressed “price stability” as the bank’s top priority, while rejecting forward guidance and signalling possible rate hikes as inflation remains above 4 %.

The U.S. Supreme Court is expected this week to rule on President Donald Trump’s attempt to fire Fed Governor Lisa Cook. Lower courts have allowed Cook to remain on the Board of Governors; a decision protecting her would preserve Fed independence and remove a major risk for Warsh’s tenure.

Warsh will also attend the European Central Bank’s annual symposium in Sintra, Portugal, joining ECB President Christine Lagarde, Bank of England Governor Andrew Bailey and Bank of Canada Governor Tiff Macklem. The forum will discuss global inflation pressures, AI developments and financial‑stability risks.

Additional developments include the delayed search for a new president of the Atlanta Fed, giving Warsh input on the appointment, and reports that Warsh holds a personal portfolio of more than 30 crypto‑related investments, marking the first Fed chair with significant digital‑asset exposure.