Anonymous4 days ago
Jerome Powell stepped down as Federal Reserve Chair on May 15, 2026, after his second four-year term expired, replaced by Kevin Warsh in the most partisan confirmation vote for a Fed chair in modern history (54-45). Powell's decision to remain on the Board of Governors — the first former chair to do so since Marriner Eccles in 1948 — and his parting warning that "equity prices are fairly highly valued" have set the stage for a turbulent new chapter in U.S. monetary policy, with inflation resurging to 3.8%, stock valuations near dot-com-era peaks, and global confidence in the dollar at a 31-year low.