Kevin Warsh is sworn in as the next chair of the Federal Reserve, following President Donald Trump’s public calls for the central bank to lower interest rates. Both outlets report that traders and investors are not pricing in a rate cut in 2026. Instead, market expectations point to the Fed keeping interest rates unchanged through most, if not all, of next year.
The reports frame the swearing-in in the context of an ongoing policy disagreement: Trump has said he wants lower borrowing costs, while financial markets anticipate the Federal Reserve will maintain its current stance rather than pivot toward easing in 2026. The outlets do not provide details on Warsh’s immediate policy agenda in these excerpts, but they consistently emphasize the same point about market expectations: investors see little probability of cuts next year and appear to expect the Fed to “stay on hold.”
