Kevin Warsh begins his term as Chair of the Federal Reserve today, May 15, 2026. He succeeds Jerome Powell following a 54-45 Senate confirmation vote. Warsh takes office amid persistent inflation and political pressure for lower interest rates.
Warsh has previously criticized the Federal Reserve’s $6.7 trillion balance sheet. Although perceived as a hawk, his recent rhetoric aligns with President Trump’s calls for rate cuts.
This transition creates uncertainty for the U.S. dollar and real yields. Precious metals markets, including platinum, react sensitively to these potential policy shifts.