Kevin Warsh confirmed as Fed Chair in most divisive vote ever

#fed #kevinwarsh #inflation #interestrates May 13, 2026 - The Federal Reserve officially has a new leader. Kevin Warsh has been confirmed by the US Senate as the next chair of the Federal Reserve in one of the most divisive Fed confirmation votes in modern history. But he’s stepping into the role at a difficult moment for markets and the economy. Inflation has now remained above the Fed’s 2% target for five straight years, oil prices are climbing because of tensions in the Middle East, and investors are rapidly rethinking expectations for interest rate cuts. Yahoo Finance Fed correspondent Jennifer Schonberger explains. #economy #stocks #finance #markets #federalreserve Chapters 00:00 Kevin Warsh confirmed as Fed chair 00:50 Why the Senate vote was so divisive 02:05 Why inflation complicates Warsh’s start 03:40 The challenge of cutting interest rates 05:10 Why Jay Powell is staying at the Fed 06:53 When Warsh officially takes office == — Facebook: https://www.facebook.com/yahoofinance — X/Twitter: https://x.com/YahooFinance — Instagram: https://www.instagram.com/yahoofinance/ — TikTok: https://www.tiktok.com/@yahoofinance — LinkedIn: https://www.linkedin.com/company/yahoo-finance https://finance.yahoo.com/

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