The New Fed Chair's Plan to Cancel $39T Debt Crisis: Top Economist

About this episode

Steve Keen discusses the implications of Kevin Warsh's appointment as Federal Reserve Chairman amidst a looming debt crisis and economic challenges.

👉 Download my 3-Book Rebel Economist Bundle (Free this week here): https://www.stevekeen.com In 2026, Kevin Warsh steps into the most powerful economic role on earth Federal Reserve Chairman inheriting America's staggering $39 trillion debt. World-renowned economist Steve Keen, who famously predicted the 2008 global financial crisis, delivers a sobering warning: Warsh is "cut from the same cloth" as every Fed chair before him. Trained in neoclassical economics a discipline Keen argues is built on fantasies that completely ignore money, banks, and private debt Warsh won't bring the radical change America desperately needs. Meanwhile, Trump's military escalation in the Strait of Hormuz has triggered a supply shock that conventional economists are misdiagnosing as demand-driven inflation. By raising interest rates to fight the wrong enemy, the Fed is accelerating bankruptcies, crushing the private sector, and destabilizing the very economy it claims to protect. Keen's verdict? 2026 is the year of chaos a financial crisis born not of market forces, but of human ignorance. Why did Trump pick Kevin Warsh as the next Federal Reserve Chairman and what happens when Warsh inevitably…

People in this episode

Host: Steve Keen

Topics covered

• debt crisis
• Federal Reserve
• economic policy
• supply shock
• interest rates
• financial crisis

Keywords

• debt
• Federal Reserve
• Steve Keen
• Kevin Warsh
• supply shock
• interest rates
• financial crisis
• neoclassical economics

Mentioned in this episode

Organizations: Federal Reserve, neoclassical economics

Places: Strait of Hormuz

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