Rob Curran

Warsh sounds more hawkish than his predecessor Jerome Powell, emphasising the importance of ‘price stability’

The US central bank is unlikely to cut rates this week, but all eyes are on the direction the new chair will take at his post-decision press conference

The euphoric growth expectations have not yet been justified by the earnings

Outgoing chief Powell wants to stay on as a governor mainly as a guard dog for the central bank’s continued independence

His successor Kevin Warsh is viewed as more responsive to the Trump administration

The US central bank hinted that it may not cut rates until the fog from the Iran war has cleared

Officials warn any rate-cut plans will be shelved until the aftershocks of the Iran war become clear

In some quarters, he is seen as a ‘credible choice’, who may hold his own against President Trump’s demand for rate cuts

It will maintain trust in central banks that monetary policy will not be abused for short-term gains that might win elections

The benchmark rate is likely to stay put at between 3.5 and 3.75%