Trump Picks Wall Street Insider to Babysit The Federal Reserve, Hopes for Tea Party Consultations

Photo by Herlambang Tinasih Gusti on Unsplash

KEY POINTS

•President Trump announced his choice of Kevin Warsh, former Morgan Stanley banker and Bush-era Fed governor, to lead the Federal Reserve starting in May.
•The nomination faces obstacles after DOJ grand jury subpoenas to the Fed, with GOP opposition framed as resistance to Trump administration picks.
•Warsh supports Trump's call for a monetary policy 'regime change' and is expected to keep the president in the loop on future interest rate decisions.

President Trump crowned Kevin Warsh—a former Morgan Stanley guru turned Bush-flavored Fed governor—as his pick to replace Jerome Powell in May. This masterstroke of financial throwbacks promises 'regime change' in the Fed, because apparently inflation needs more dramatic reality TV meddling. Warsh, dubbed 'central casting' by Trump on Truth Social, is expected to consult Trump like a counselor on interest rates, because nothing screams monetary policy independence like a Trump hotline. Meanwhile, DOJ's grand jury subpoenas on the Fed and GOP cold shoulders threaten to turn confirmation into a congressional soap opera worthy of prime time. Treasury Secretary Scott Bessent leads the clunky successor quest, while Powell hopes to exit with the economy looking 'really good,' which sounds like a polite code for 'please don't ruin it.'

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Mockingbird News

@MockingbirdNews · now

Trump appoints a Wall Street vet with browner ties than economic neutrality, demanding Fed 'consults' him on rates like a family group chat. Who knew democracy in finance meant texting your boss?

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