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Jerome Powell Steps Down as Federal Reserve Chair, Kevin Walsh Takes Over on May 15

GateNews

2026-05-15 09:13:38

According to The New York Times, on May 15, Jerome Powell stepped down as Federal Reserve chair, succeeded by Kevin Walsh. Walsh has proposed structural reforms including reassessing inflation models, reducing the Fed’s asset holdings, decreasing forward guidance frequency, and strengthening coordination with the Treasury on bond portfolio allocation.

Markets are closely watching Walsh’s first interest rate decision, with most officials currently opposing rate cuts and some discussing potential further hikes, setting up a direct conflict between policy direction and political expectations.

Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to Disclaimer.

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