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New Fed Chair Warsh Drops 2% Target, Cuts Balance Sheet

5/28/2026

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Summary

Story summary

Kevin Warsh (Federal Reserve (Fed) Chair) assumed the role on May 22 after Jerome Powell’s term ended on May 15 and said the Fed will drop the 2 % inflation target.
Kevin Warsh (Federal Reserve (Fed) Chair) announced the Fed will sell Treasury and mortgage-backed securities, cutting the balance sheet from $9 trillion in March 2022 to $6.7 trillion.
The Dow Jones, S&P 500, and Nasdaq each rose on that day, up 0.44%, 0.07%, and 0.05% respectively.

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Story summary

Kevin Warsh (Federal Reserve (Fed) Chair) assumed the role on May 22 after Jerome Powell’s term ended on May 15 and said the Fed will drop the 2 % inflation target.
Kevin Warsh (Federal Reserve (Fed) Chair) announced the Fed will sell Treasury and mortgage-backed securities, cutting the balance sheet from $9 trillion in March 2022 to $6.7 trillion.
The Dow Jones, S&P 500, and Nasdaq each rose on that day, up 0.44%, 0.07%, and 0.05% respectively.