Kevin Warsh sworn in as Fed chair
WASHINGTON - President Donald Trump on Friday held a swearing-in ceremony for new Federal Reserve Chair Kevin Warsh, a former central bank official-turned-critic and aide to former President George W. Bush. Key facts - Warsh, 55, earned a law degree from Harvard University in 1995 before becoming a banker at Morgan Stanley, where he later served as vice president and executive director before joining the Bush administration in 2002 as executive secretary at the National Economic Council. - Bush nominated Warsh to serve on the Federal Reserve’s Board of Governors in 2006, with Warsh becoming the youngest person ever to join the central bank at 35. - During the 2008 financial crisis, Warsh aided in the government’s bailout of insurer AIG and assisted in JPMorgan’s acquisition of Bear Stearns, an 85-year-old brokerage that collapsed as the investment banking industry failed. - Warsh criticized the Fed’s decision to quickly lower interest rates during the financial crisis, arguing the cuts would only spur inflation…
22 May 00:00 · Inlandnewstoday