The new most important man in the world

The news rather slipped under the radar amid Donald Trump’s state visit to China, Iran and AI, but the Fed has a new chair. Jerome Powell’s term ended on Friday, and Kevin Warsh is therefore taking over. Or, more precisely, he is about to take over, since Warsh has not yet been sworn in, with Senate confirmation having taken place only last week. But that should now be a matter of days. Warsh is expected to chair the Fed’s next meeting in June and lead the institution for the next four years. Let us hope he provides the same range…