00:00Kevin Walsh is set to be sworn in as chair of the U.S. Federal Reserve later today at the
00:06White House.
00:06He will replace Jerome Powell, beginning a four-year term as Fed chair and a 14-year term as Federal
00:13Reserve governor.
00:16Walsh was confirmed for the role in a near-party-line vote earlier this month.
00:20He takes office as Fed policymakers continue to debate the next move on interest rates.
00:25Amid renewed inflation pressures linked to global energy shocks and ongoing trade tensions.
00:31Inflation in the U.S. has yet to fully return to the Federal Reserve's 2% target after peaking in
00:37recent years,
00:38putting fresh focus on the central bank's next move.
00:41Walsh has long signaled support for lower interest rates and a significant reduction in the Fed's balance sheet.
00:47During his confirmation hearings, he backed many of the Trump administration's broader economic priorities,
00:53while stressing that he would maintain the central bank's independence from the White House.
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