financetom
Economy
financetom
/
Economy
/
Fed's Warsh has a difficult boss and tough job ahead, says StanChart CEO Winters
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Fed's Warsh has a difficult boss and tough job ahead, says StanChart CEO Winters
May 19, 2026 1:30 AM

HONG KONG, May 19 (Reuters) - Incoming Federal Reserve chair Kevin Warsh faces both a tough environment and a "difficult boss," Standard Chartered ( SCBFF ) CEO Bill Winters said on Tuesday, pointing to political pressure on Warsh to cut rates even as inflation remains high.

"Inflation is stubbornly high and unlikely to come down, but he's got the political environment (in which) he will be criticised if he doesn't cut rates," Winters told reporters in Hong Kong.

"He has got a difficult boss but you know he (Warsh) is a serious guy."

Warsh will be sworn in as U.S. Federal Reserve chief on Friday by President Donald Trump. Trump chose Warsh to head the U.S. central bank following the end of Jerome Powell's term.

U.S. CPI increased 3.8% in the year to April, the biggest annual increase in three years, reflecting rising energy prices following the U.S.-Israeli war with Iran.

Some Fed policymakers are already concerned about high inflation and want to use the Fed's policy statement to signal that rate hikes, not rate cuts, may be coming.

Trump has repeatedly called on the Fed to cut rates dramatically. Market pricing currently shows roughly a 60% chance the Fed raises rates by year-end.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Federal Reserve Watch for March 6: Powell Says Rate Cuts Likely This Year, Will Proceed 'Carefully'
Federal Reserve Watch for March 6: Powell Says Rate Cuts Likely This Year, Will Proceed 'Carefully'
Mar 6, 2024
02:31 PM EST, 03/06/2024 (MT Newswires) -- Fed Chair Jerome Powell (voter) said in prepared testimony that it would likely be appropriate to cut interest rates this year if the economy evolves as expected but cautioned that risks remain and that the Federal Open Market Committee does not expect it would be time to lower rates until there is greater...
Economic Activity Grew 'Slightly' Since Early January, Fed's Beige Book Shows
Economic Activity Grew 'Slightly' Since Early January, Fed's Beige Book Shows
Mar 6, 2024
03:13 PM EST, 03/06/2024 (MT Newswires) -- Economic activity in the US rose slightly since early January, while the growth outlook was generally positive, the Federal Reserve said in its latest Beige Book released Wednesday. Eight of the 12 Fed districts reported slight to modest growth in activity during the period, while three reported no change. One district reported a...
US labor market steadily easing as job openings, resignations decline
US labor market steadily easing as job openings, resignations decline
Mar 6, 2024
WASHINGTON (Reuters) - U.S. job openings fell marginally in January, while the number of workers quitting their jobs dropped to a three-year low, indicating that labor market conditions were gradually easing. The decline in resignations, which pushed the quits rate to the lowest level in 3-1/2 years, over time bodes well for slower wage inflation and overall price pressures in...
Fed Beige Book Reveals Softening Consumer Spending Amid Rising Price Sensitivity, Lower Demand For Leisure
Fed Beige Book Reveals Softening Consumer Spending Amid Rising Price Sensitivity, Lower Demand For Leisure
Mar 6, 2024
The latest findings from the March Federal Reserve Beige Book reveal Wednesday that while the economy has seen a slight overall increase in activity since the beginning of the year, consumer spending has experienced a downturn, particularly in the retail sector. This decline is attributed to increased price sensitivity among consumers, who are now more inclined to “trade down or...
Copyright 2023-2026 - www.financetom.com All Rights Reserved