Warsh, who takes office amid rising inflation, faces Trump's call to 'be completely independent.'
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Kevin Warsh, who has taken over the chairmanship of the U.S. Federal Reserve (Fed), began his tenure in the shadow of rising inflation and declining interest rate cut expectations. According to reporting by Cumhuriyet Gazette, U.S. President Donald Trump called on Warsh to 'be completely independent.'
With Warsh's arrival, market expectations for interest rate cuts have receded significantly. The potential shift in the Fed's monetary policy carries critical importance for emerging markets, including Turkey, as dollar exchange rates and capital flows could be directly affected.
Warsh is known as an experienced figure who has previously served within the Fed. The extent to which the new administration will pursue a tight monetary policy in the fight against inflation is being closely watched in global financial circles.