Episode 942: The New Fed Chair – Kevin Warsh

Newt's World

Gingrich 360

News, Politics

4.6 • 6.4K Ratings

🗓️ 5 February 2026

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

Newt talks with Thomas Hoenig, a former Federal Reserve official and Distinguished Senior Fellow at the Mercatus Center, about the nomination of Kevin Warsh as the new Chairman of the Federal Reserve. President Trump’s decision has sparked discussion on Warsh's economic policies. Warsh, known for his hawkish views, is concerned about national debt and quantitative easing, which may lead to tighter policies than President Trump desires. Hoenig believes Warsh is a good choice due to his understanding of markets and fiscal policies, although he will face pressure to implement rate cuts. The independence of the Federal Reserve is emphasized, with Warsh expected to maintain a balance between being friendly to the President and upholding the Fed's independence. His nomination has influenced market behavior, with significant drops in gold and silver prices, reflecting expectations of tighter monetary policy under Warsh. The political landscape is also affected, with discussions on the potential challenges Warsh might face in the Senate confirmation process and the implications of ongoing legal cases involving Federal Reserve officials. The role of the Federal Reserve in the economy is highlighted, with its policies significantly impacting inflation, interest rates, and overall economic stability.

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Transcript

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0:00.0	This is an I-Heart podcast.
0:02.5	Guaranteed Human.
0:08.7	On this episode of New World, President Trump announced Kevin Warsh as his nomination for the new chairman of the Federal Reserve.
0:17.7	We're going to discuss how the markets have reacted to his announcement and Warsh's view on interest rate cuts and the economy in general.
0:24.6	I'm really pleased to welcome back my guest, Thomas Honig.
0:29.6	He is the former vice chairman of the Federal Deposit Insurance Corporation,
0:33.6	former president and CEO of the Federal Reserve Bank of Kansas City.
0:39.2	He was with the Federal Reserve for 38 years.
0:42.0	He is currently a distinguished senior fellow at the Mercatus Center at George Mason University.
0:48.4	And I can't imagine anybody with a better overall understanding than Thomas.
1:11.7	Welcome and thank you for joining me again on Newt's World.
1:13.3	Well, thank you, Newt.
1:16.7	And it's a delight to be with you once again in these interesting times.
1:18.7	So happy to share views here.
1:19.6	They are interesting.
1:22.1	I'm hoping you'll make them a little bit more understandable.
1:26.1	Trump announced Kevin Warsh as his chair pick.
1:30.3	Can you tell us what your sense of Kevin is and were you surprised that this is who he picked? I wasn't surprised that he picked him. He was, I think,
1:36.4	well qualified and has lots of experience. And I think if there's any degree of surprise, it's that Kevin historically, and when I was working with him, and he's written op-as and the Wall Street Journal and so forth, which are, I think the market's claiming they're hawkish.
1:55.1	He is very concerned about the growing national dead.
1:58.3	He's concerned about when he was at the FOMC about QE, all things that
2:03.0	would suggest a somewhat tighter policy than what I think the president might want, but only time
	...

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