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2026-05-26 08:19:33
[Wash Sworn In as Fed Chairman, Market Expectations Rise for Rate Hike] (1) On May 22, local time, Kevin Warsh was sworn in as Chairman of the Federal Reserve in Washington, D.C. President Trump held an inauguration ceremony for him at the White House and emphasized his desire for Warsh to remain "completely independent." This ceremony was not held at the Fed headquarters as is customary, but at the White House. The last time this arrangement was made was when Greenspan took office. (2) In his speech, Warsh said that he would lead a "reform-oriented" Fed, fulfilling his responsibilities of controlling inflation and achieving full employment, with the core mission of maintaining price stability and achieving maximum employment. He also said that he intends to perform his duties with the same energy and clear goals as Greenspan. (3) The minutes of the Fed meeting in April showed that there were significant internal policy differences, but the hawkish stance was further strengthened. As of May 22, 2026, the yield on two-year Treasury bonds rose to 4.13%, slightly higher than the federal funds target rate of 3.75%. This yield serves as an indicator of market expectations regarding interest rate policy and may reflect that investors are adjusting their positions in anticipation of a possible rate hike in the coming months.
