Jerome Powell’s term as Federal Reserve Chair expired on Friday, May 15, with Kevin Warsh set to take over. This transition is happening as the Trump administration pushes for a shift in monetary policy. 

The President is making it clear he wants Warsh to cut rates right away. Warsh insists he won’t do the President’s bidding. 

For more, check out our exclusive content on CGTN Now and subscribe to our weekly newsletter, The China Report.