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🇺🇸 The US has inaugurated a new Fed Chair.
Trump attended Kevin Warsh’s swearing-in ceremony and made several key statements:
He said he expects Warsh to go down in history as a great Federal Reserve Chair.
He also said Warsh will lead the Fed starting today and that he wants him to be fully independent - sure, but preferably with rate cuts on demand.
Trump added that the US plans to grow its way out of debt, while Warsh will restore the Fed’s integrity, push reforms, and modernize the regulator.
We will stop inflation, but we will not stop America’s greatness.
Meanwhile, markets are now pricing in an almost 100% chance that rates stay unchanged in June, while a hike by year-end is no longer off the table.