Fed Chair Kevin Warsh Is Reshaping the Central Bank, but the Unintended Consequences of His Actions Can Derail Wall Street
Reforming the Federal Reserve comes at a potentially steep cost to an already expensive stock market.
Overview
Making history is commonplace on Wall Street, and 2026 has been no different. Since this year began, we've watched the Dow Jones Industrial Average (DJINDICES: ^DJI), S&P 500 (SNPINDEX: ^GSPC), and Nasdaq Composite (NASDAQINDEX: ^IXIC) reach all-time highs, and seen the largest-ever initial public offering take shape.
But the most memorable milestone of all might just be Kevin Warsh's ascension to head of the central bank. When Warsh officially succeeded Jerome Powell on May 22, he became only the 17th Fed chair since the central bank's inception in December 1913.
Fed Chair Kevin Warsh has wasted little time implementing reforms at the central bank. Image source: Official Federal Reserve Photo.
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Originally published at www.fool.com.