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Kevin Warsh Opens Fed Chairmanship With Push to Reshape How the Central Bank Works

6/24/2026

Federal Reserve Chairman Kevin Warsh used his first press conference at the helm of the U.S.

central bank on Wednesday to signal an operational overhaul, putting the institution's internal workings at the center of his early agenda.

The move marks an immediate departure from a chairman focused primarily on rate-setting optics, suggesting Warsh views the mechanics of how the Fed functions as a reform priority in its own right.

What "How the Fed Operates" Actually Means The Federal Reserve does two broad categories of work: it sets monetary policy — interest rates, balance sheet management — and it runs an institution, managing its communications strategy, governance structures, internal research apparatus, and relationships with regional banks across the country.