Kevin Warsh was sworn in as chair of the Federal Reserve for a four-year term, placing him in a powerful position to shape interest rates and steer the US economy during a critical period.
However, his appointment earlier this month had already drawn scrutiny because of controversies previously linked to his name.
Warsh, who served on the Federal Reserve Board of Governors from 2006 to 2011, supported rate hikes under Joe Biden in 2024 before later backing rate cuts after Donald Trump returned to office.
Therefore, Warsh’s appointment has raised questions over whether the Federal Reserve will be able to maintain its independent functioning.
During his confirmation hearing before the United States Senate Committee on Banking, Housing, and Urban Affairs late last month, Kevin Warsh was accused by Elizabeth Warren of acting as a “sock puppet” for Donald Trump.
He has also faced scrutiny over private investments worth more than $100 million, including holdings tied to the Juggernaut Fund LP and Duquesne Family Office, reported Al Jazeera.
