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Senate Democrats have also condemned Warsh for not fully divulging the details of his extensive wealth, which disclosures show amounts to at least $100 million. His investments include stakes in Polymarket and SpaceX, but he hasn’t revealed how large those holdings are. He promised to sell all such assets within 90 days of being sworn in.
“He will be the wealthiest Fed chair in history, but he refuses to provide transparency to the American people about who he is entangled with,” Warren said.
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He promised to sell all such assets within 90 days of being sworn in. After the laughter died down he added “no, seriously I’m going to make a ton of money running the Fed.”
We are so fucked.
The vote was almost completely along party lines, with only Pennsylvania Democrat Sen. John Fetterman crossing over to vote for Warsh, who becomes the 11th Fed chair of the modern banking era.
stroke victim fetterman
ftfy
Get ready for 4% inflation to be the New Normal.
We’ll be lucky if that’s all. In the 70s and 80s inflation was in the double digits (peaked 14.8%). Under Carter and Reagan fed chair Volcker raised interest rates from 11.2% to over 20% for a time to combat it.
Under Volcker, unions were busted and wages flattened as a means of inducing austerity. That lemon’s been juiced.
There is no pool of retail consumers who can maintain spending at double-digit inflation rates for an appreciable length of time. You’d just see consumer spending plunge
I don’t remember Powell stepping down. Is this guy just waiting for him to leave whenever that might be?
https://www.politico.com/news/2026/03/18/powell-fed-doj-investigation-trump-warsh-inflation-00834681
The chairman position is picked from members of the board for a set term, Powells term is ending.
However, Powell, as a middle finger to Trump, isn’t leaving the board. Typically after serving as the chairman, a board member would leave the board. Powell, mostly due to Trumps attempt to influence the board, has decided to stay on breaking a 75 year precedent.
Its nice to see someone breaking precedent to stick it to Trump. I just hope he has enough influence to keep Walsh in check, otherwise we’re all screwed.
https://www.fool.com/investing/2026/05/09/fed-chair-jerome-powell-just-broke-75-years-of-pre/
