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Stanford University

Kevin Warsh, U.S. President Donald Trump's nominee to be next chair of the Federal Reserve, testifies before a Senate Banking Committee confirmation hearing on Capitol Hill in Washington, D.C., U.S., April 21, 2026. REUTERS/Kevin Lamarque/File Photo
May 15, 2026

US debt load could undercut Warsh’s plan to shrink Fed balance sheet

Federal Reserve chief Kevin Warsh's plan to reduce the Fed's balance sheet faces challenges from rising U.S. debt and higher long-term interest rates.

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