Kevin Warsh is the new Chairman of the Federal Reserve. Trump got his man confirmed by a narrow 54-45 vote in the Senate.

Warsh is seen as pro-Trump and more dovish on interest rates than many would prefer. But he also has actual previous experience from the Fed and understands markets. He’s hardly some random political appointee.

Predictably, Swedish media has gone into full panic mode.

This is apparently the end of the Fed’s independence, the death of democracy as we know it, and possibly the beginning of the end for the Western world. The headlines practically write themselves: “Trump seizes control of the Fed”, “Loyalist appointed”, etc.

The contrast is almost comical. When a Republican president appoints a Fed Chair he actually wants, it’s a constitutional crisis. When Biden or Obama did the same, it was simply “competent governance”.

I’m no Fed expert, but it’s fascinating how quickly Swedish media turns any appointment that doesn’t align with their worldview into an existential threat. One gets the impression they haven’t even looked at Kevin Warsh’s actual qualifications — only his political associations.

A classic case of guilty by association.

We’ll see how Warsh performs. He might be good. He might be terrible.

But the hysterical tone from Swedish commentators says far more about them than it does about him.

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This is a new post on the new dewlar.me blog.
You can find the old blog here:https://mrsdewlar.blogspot.com

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