Kevin Warsh Set to Be Sworn In as Fed Chair on Friday, Replacing Jerome Powell

Kevin Warsh is set to be sworn in as the new Federal Reserve Chair on Friday, marking the end of Jerome Powell's tenure at the helm of the world's most influential central bank. The transition represents one of the most consequential leadership changes in modern monetary policy history.

Warsh, a former Fed governor and Morgan Stanley investment banker, has long been viewed as a hawk on inflation and a critic of the Fed's post-2008 balance sheet expansion. His appointment signals a potential shift in how the central bank approaches rate policy, quantitative tightening, and its broader mandate — changes that markets will be watching closely from day one.

For crypto and risk-asset investors, a new Fed Chair is a macro variable of the highest order. Warsh's policy instincts and his relationship with the Treasury and White House will shape the liquidity environment that underpins…