What smart people are saying after Fed chair Kevin Warsh's debut
New Fed chair Kevin Warsh signaled a sweeping overhaul of the central bank, from forecasts and forward guidance to AI and operations.
By Huileng Tan, Katherine Li
The Federal Reserve held interest rates steady on Wednesday, but the bigger story was the man behind the podium.
In his first meeting as Fed chair, Kevin Warsh struck a firm tone on inflation, signaling that the central bank's focus remains squarely on getting price growth back under control.
Warsh also used the occasion to preview a broader shakeup at the Fed, signaling plans to rethink everything from economic forecasts and forward guidance to the institution's use of AI and internal operations.
Warsh's comments suggested a more hawkish stance on inflation than many investors anticipated from Donald Trump's appointee to the Fed's top job.
Here is how smart people in business are reacting to Warsh's first major policy statement.