What Will the Fed's 'Warsh Era' Bring?
RealClearPolitics
by Mohamed El-Erian, Project SyndicateFebruary 27, 2026
Kevin Warsh's nomination to succeed Jerome Powell as U.S. Federal Reserve chair has triggered a predictable frenzy of speculation centered on a single, narrow question: How hard will he push for interest-rate cuts? While such conjecture may be entertaining, it misses the forest for the trees. To focus solely on rate cuts is to misunderstand the Fed's situation and the scale of the challenge awaiting its next leader.
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Originally published on RealClearPolitics on 2/27/2026