Fed Chair Warsh makes first hires at central bank, including 'Project 2025' author

Newly confirmed Fed Chair Kevin Warsh has made his first staff hires, including the author of the Fed chapter in the Heritage Foundation's 'Project 2025' blueprint — a document that advocates reducing Fed independence and subordinating monetary policy to executive priorities. This signals a potential structural shift in how the Fed operates, raising duration and dollar risk as markets begin pricing in a less credible inflation anchor.