What to expect from a Warsh-led Fed

What to expect from a Warsh-led Fed

From Making Sense by J.P. Morgan

May 22, 2026 · 11 min · Episode 384

About this episode

This episode discusses the implications of Kevin Warsh's leadership at the Federal Reserve and forecasts future economic policies.

Who is the real Kevin Warsh? Having been sworn in as the Fed's 17th chair, the Warsh era at the FOMC has begun. But with inflation proving sticky and Fed independence under the microscope, how will he balance the committee's dual mandate? What might he do differently than his predecessor, Jerome Powell? And how will he handle President Trump? On this episode of Making Sense, Alexa Hanelin talks to Michael Feroli, J.P. Morgan's chief U.S. Economist, to forecast the path of the Fed and examine what may be in store at the June FOMC meeting and beyond. This episode was recorded on May 22, 2026. This communication is provided for information purposes only. Please visit www.jpmm.com/research/disclosures for important disclosures. JPMorgan Chase & Co. or its affiliates and/or subsidiaries (collectively, J.P. Morgan) normally make a market and trade as principal in securities, other financial products and other asset classes that may be discussed in this communication. This communication has been prepared based upon information from sources believed to be reliable, but J.P. Morgan does not warrant its completeness or accuracy except with respect to any disclosures relative to J.P…

People in this episode

Host: Alexa Hanelin

Guest: Michael Feroli

Topics covered

  • Federal Reserve
  • Kevin Warsh
  • inflation
  • economic policy
  • FOMC meeting
  • Jerome Powell

Keywords

  • Kevin Warsh
  • Federal Reserve
  • inflation
  • FOMC
  • economic policy
  • Jerome Powell
  • Michael Feroli

Mentioned in this episode

Organizations: J.P. Morgan, FOMC, Federal Reserve

Places: United States

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