New Fed Chair Warsh Makes First Hires with Conservative Bias

Fed Chair Warsh has made his first hires at the central bank, including the author of 'Project 2025', a conservative policy blueprint.

New Federal Reserve Chair Kevin Warsh made his first staffing moves at the central bank, bringing on two conservative policy veterans as interim advisers, including Paul Winfree, author of the Federal Reserve chapter in the "Project 2025" blueprint .

Winfree, a Trump first-term domestic-policy official who founded the pro-Trump Economic Policy Innovation Center, has floated ending the Fed's dual mandate in favor of focusing on price stability; the second hire, Daniel Heil, is a Hoover Institution fellow. Both are working as temporary contractors on special projects.

Markets watch Fed personnel closely for signals on policy direction, and the conservative tilt fuels speculation about a more hawkish, reform-minded approach to inflation and the Fed's mandate. Warsh, however, publicly endorsed upholding both sides of the dual mandate at his swearing-in, suggesting daylight between his stated stance and Winfree's Project 2025 recommendations.