Anonymousabout 2 hours ago
The U.S. Senate confirmed Kevin Warsh as the 11th modern Federal Reserve chair in a razor-thin 54-45 vote, the closest for a Fed leader in history. Despite President Trump's long-standing demand for lower interest rates, allies within his own party are now cautioning that persistent inflation — with core PCE at 3.2% and CPI running at 3.8% — may force Warsh to keep rates elevated through much of 2026, complicating a $9.7 trillion Treasury refinancing wave and widening the policy gap between the Fed and foreign central banks already deep into cutting cycles.