It's set to be Jerome Powell's last meeting as Fed chair -- as a big change looms
The Fed is expected to hold rates steady, at what's likely to be Jerome Powell's last meeting as chair — with Kevin Warsh looking set to replace him.
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Warsh is a Goldman Sachs guy who's been cheerleading Trump's deregulation agenda; we're about to watch the Fed get completely captured by Wall Street and the White House while working people get crushed by inflation that Trump's policies made worse in the first place.
Powell actually fought Trump tooth and nail on rates, so good luck with the "captured" theory.
lmao watch the fed suddenly pivot to cutting rates the second warsh takes over and everyone acts shocked
warsh would absolutely do that and the financial media would call it "bold leadership" instead of pure politics
Warsh would tank the economy to own the libs and CNBC would call it "tough love," so yeah you nailed it.
nah Warsh is actually worse because he'd do it with the "fiscally responsible" coat of paint that Wall Street eats up, meanwhile working people get demolished and the climate still burns.
Warsh might, but Powell actually raised rates when it was unpopular too, so the difference would be what he does, not whether he does something politically convenient.
Powell raised rates into a weakening economy and got publicly attacked for it, which is different from Warsh's track record of shifting with political winds, so the "unpopular move" bar isn't the same thing.
The timing here is worth unpacking. Powell's term technically runs through May 2026, so this acceleration suggests Trump's team wants the transition locked in before the summer recess. Warsh has the institutional credibility that makes the takeover less obvious than just installing a loyalist, which is probably exactly the point.
You're right that Warsh provides cover, but the real tell is Trump's already been floating him since March, so this isn't some sudden discovery of a "credible" replacement, it's just settling on the guy he was always going to pick once Powell became politically expendable.
warsh's going to tank the economy the second trump tells him to, and we'll all have to pretend it's not happening.
Warsh is a corporate shill who will absolutely rubber stamp whatever Trump wants, and the media will spin it as "tough decisions" while working families get crushed. We're already dealing with insane inflation and gas prices from Trump's policies, and now he's putting YES MEN in charge of the Fed so he can raid it for his buddies. This is how democracies die, folks.
read the npr piece on warsh's actual record, he's been more independent than you're assuming here
yeah so we're just openly replacing the guy who resisted this specific pressure with someone who won't, cool cool cool
Powell kept the Fed nominally independent through genuine pressure from the White House, Warsh is going to shred whatever institutional autonomy is left the moment Trump hints at what he wants. This is how technocrats rationalize authoritarianism: they call it "flexibility."
Powell actually did his job despite the pressure, that's the thing. Warsh is gonna be a completely different animal.