Warsh Appoints Outside Reviewers to Examine Fed's Operating Framework

Kevin Warsh, newly installed as Federal Reserve chair after his first FOMC meeting on June 18, 2026, named Daniel Heil and Paul Winfree as transition analysts to review the Fed's strategies and operational procedures. Neither is a traditional Fed insider. Their mandate to examine "possible operational changes" signals Warsh intends to scrutinize the post-crisis framework he previously criticized as a Fed governor, before deciding whether rates move again.