American economist and Federal Reserve governor since 2020
Kevin Warsh has been sworn in as chair of the U.S. Federal Reserve at a White House ceremony on May 22, 2026. President Trump has said Warsh will be "totally independent." Markets are repricing risks as inflation remains above target and the US‑Iran war is pushing bond yields and oil prices higher.
The Consumer Price Index has fallen 0.4% in June, with energy prices dragging the annual rate down to 3.5%. Core inflation remains at 2.6% as oil markets react to renewed tensions in the Strait of Hormuz, potentially reversing the near-term relief.