The Business Times
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What bond investors should know about a Warsh-led Federal Reserve

The new chairman’s preferred inflation gauge is different from the one the US central bank currently uses

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    • Kevin Warsh's reassurances that he is committed to the independence of the FOMC need to be balanced against his persistent criticism of the central bank.
    • Kevin Warsh's reassurances that he is committed to the independence of the FOMC need to be balanced against his persistent criticism of the central bank. PHOTO: NYTIMES

    Mickael Benhaim

    Published Tue, May 19, 2026 · 02:28 PM

    KEVIN Warsh has been confirmed as the new chairman of the US Federal Reserve. Is there a risk that under Warsh, the Fed may be unduly influenced by the government, losing its independence?

    What might this mean for bond investors?

    Warsh has stated he is committed to the independence of the Federal Open Market Committee (FOMC). Under his leadership, the rate-setting body will, in operational terms, remain free from political interference.

    US Federal ReserveKevin WarshFixed income markets

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