- Kevin Warsh has been sworn in as Federal Reserve Chairman, signaling a shift to a 'back-to-basics' economic policy.
- The Fed will prioritize price stability and full employment, moving away from climate and social policy mandates.
- Key reforms include modernizing data collection, reducing reliance on static economic models, and ending 'forward guidance' to favor data-dependent decision-making.
- The administration is pursuing an 'America First' industrial strategy, utilizing tariffs and a 129:1 regulatory cut ratio to boost domestic manufacturing.
- The shift aims to restore Fed independence by removing political agendas from central bank operations.