President Donald Trump will host a White House ceremony today to swear in Kevin Warsh as the new chair of the Federal Reserve, concluding a multi-year campaign to eliminate Jerome Powell's frustrating commitment to independent economic data.
President Donald Trump will host a White House ceremony this afternoon to formally swear in Kevin Warsh as the new chair of the Federal Reserve, successfully concluding a multi-year executive campaign to replace Jerome Powell’s stubborn reliance on macroeconomic metrics with a more streamlined, loyalty-based monetary policy. Administration officials noted the transition will finally allow the central bank to adjust the federal funds rate in direct, real-time response to the president's shifting political moods.
Warsh, a former Federal Reserve governor and Morgan Stanley executive, was reportedly selected after demonstrating a firm commitment to abandoning traditional economic indicators whenever they conflict with White House messaging. Internal memos circulated ahead of the swearing-in ceremony suggest the new chairman's primary mandate will include lowering borrowing costs during favorable news cycles and artificially inflating them in states that voted against the administration.
For far too long, the Federal Reserve has allowed abstract concepts like inflation and employment data to dictate policy, rather than simply checking the President's social media feed to see what the yield curve should be.
Powell, whose tenure effectively ends following relentless public attacks from the Oval Office regarding his refusal to implement negative interest rates on executive properties, will not be in attendance. According to White House aides, Powell's departure marks a crucial victory over the administrative state's insistence on empirical math.
In a broader press briefing confirming the economic overhaul, Senator Marco Rubio added that the administration is also accelerating the withdrawal of U.S. troops from Europe, a move he described as a routine logistical step to redirect military resources toward enforcing the newly mandated enthusiasm for the stock market.