Kevin Warsh Named Fed Chair as Interest Rates Remain Unchanged

Kevin Warsh, the Trump‑nominated president of the Federal Reserve, was confirmed amid scrutiny of his personal wealth and expectations for monetary policy. Investor Jeffrey Gundlach warned that Warsh is unlikely to pursue “easy money” despite market hopes.

In his first policy meeting Warsh oversaw a unanimous decision to keep the federal funds rate unchanged in the 3.5%‑3.75% range. The Fed cited persistent inflation, now at 4.2%—the highest in three years—and strong economic activity as reasons for not cutting rates. The statement noted solid employment growth, robust productivity, and recent oil‑price declines linked to a tentative US‑Iran agreement.

The appointment and the rate‑hold decision have drawn attention from markets and analysts keen to gauge the Fed’s future direction under Warsh’s leadership.