At the Fed, Kevin Warsh Can’t Referee His Way Out of Inflation

Federal Reserve Chair Kevin Warsh's ability to manage inflation may depend partly on fiscal policy decisions made by Congress and the White House, which fall outside the central bank's direct control. The Fed traditionally focuses on monetary policy tools like interest rates and money supply, while Congress controls federal spending and tax policy. Warsh took office as Fed chair in 2026. Large federal deficits can increase demand in the economy and put upward pressure on prices, complicating the Fed's inflation management efforts.

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