Trump and Warsh’s fates are now tied, for better or worse
Key takeaways
- But with new Chair Kevin Warsh now installed as the country’s central bank chief – completing Trump’s imprimatur across the top echelon of US economic policymaking posts – the dynamic shifts.
- “Kevin understands that when the economy is booming that is a good thing…we want it to boom…We don’t want to see it stifled,” Trump said.
- After campaigning and winning a second term on promises of lowering prices and addressing larger “affordability” issues for U.S. households, Trump’s approval rating on the economy has slipped dramatically.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize Former US Federal Reserve Chair Jerome Powell was a handy foil for President Donald Trump, a target of blame for everything from high mortgage interest rates to the pace of economic growth.
But with new Chair Kevin Warsh now installed as the country’s central bank chief – completing Trump’s imprimatur across the top echelon of US economic policymaking posts – the dynamic shifts. Where Trump previously could claim that Powell was foisted on him in his first administration by advisers like then-Treasury Secretary Steven Mnuchin, Warsh is Trump’s pick, and the president owns the results.
As if to emphasize the stakes, Trump hosted Warsh at a White House swearing-in ceremony on Friday that included cabinet secretaries, Supreme Court justices and top White House advisers in a pep rally atmosphere, saying in extended remarks that he wanted Warsh to “do your own thing and do a great job.