Story perspectives

Warsh's Balance-Sheet Review Tests Fed Independence Amid Trump Lawsuit

6/3/2026

Summary

Story summary

Kevin Warsh became Federal Reserve (Fed) Chairman on May 22, 2026, succeeding Jerome Powell.
Kevin Warsh sent a memo to 20,000 Fed employees pledging accuracy and a $6.7 trillion balance-sheet review.
Kevin Warsh hired Paul Winfree and Daniel Heil as contractors, scheduled his June 16-17 meeting and expects rates to stay steady.
The Federal Reserve awaits a court ruling on President Donald Trump’s attempt to fire Governor Lisa Cook, testing its independence.

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Story summary

Kevin Warsh became Federal Reserve (Fed) Chairman on May 22, 2026, succeeding Jerome Powell.
Kevin Warsh sent a memo to 20,000 Fed employees pledging accuracy and a $6.7 trillion balance-sheet review.
Kevin Warsh hired Paul Winfree and Daniel Heil as contractors, scheduled his June 16-17 meeting and expects rates to stay steady.
The Federal Reserve awaits a court ruling on President Donald Trump’s attempt to fire Governor Lisa Cook, testing its independence.