Kevin Warsh Joins the Federal Reserve

May 12, 2026, 17:45

Introduction

The US Senate chose Kevin Warsh for a job at the Federal Reserve. He will likely become the leader of the bank.

Main Body

The Senate voted 51 to 45. There was a problem with a police study about Jerome Powell. The study stopped, so the Senate voted for Mr. Warsh. Mr. Warsh worked at the bank before. He also worked at big companies and has a lot of money. President Trump wants lower interest rates. He thinks this helps the economy. Mr. Warsh says he likes this idea now. But in the past, he wanted to keep prices low. Some people think he will not let the President tell him what to do. Mr. Warsh wants to change how the bank works. He wants the bank to do only its main job. He does not want the bank to help with social problems. Now, prices are going up because of taxes and problems in Iran. This makes his job hard.

Conclusion

Mr. Warsh will become the leader this week. Jerome Powell will stay at the bank until 2028.

Learning

🕰️ Now vs. Then

In the text, we see a person changing his mind. This is a great way to learn how to describe the Present and the Past.

The Pattern:

Now (Present) $\rightarrow$ "He likes this idea now."
Before/In the past (Past) $\rightarrow$ "He wanted to keep prices low."

Word Watch: The 'S' Rule Look at the verbs when we talk about one person (Kevin or Trump):

He wants $\checkmark$
He thinks $\checkmark$
He likes $\checkmark$

When we talk about the past, the 's' disappears and we often add -ed:

He wanted (Past)
He worked (Past)

Quick Guide: Simple Opposites

Lower $\leftrightarrow$ Higher
Past $\leftrightarrow$ Now

Vocabulary Learning

Senate (n.)

A group of people who make laws in a country

Example:The Senate voted on the new law.

job (n.)

A paid position of work

Example:He has a new job at the bank.

bank (n.)

A place where money is kept and loans are given

Example:The bank is closed on Sundays.

leader (n.)

A person who leads or guides others

Example:She is the leader of the team.

voted (v.)

To cast a vote in a decision

Example:They voted for a new mayor.

problem (n.)

A difficult situation that needs a solution

Example:There is a problem with the computer.

study (n.)

An investigation or research

Example:The study shows new results.

stop (v.)

To end or cease an action

Example:Please stop talking loudly.

worked (v.)

To have performed a job or task

Example:He worked at the office last year.

companies (n.)

Large businesses that produce goods or services

Example:She works for several companies.

money (n.)

Currency used for buying goods and services

Example:He saved his money for a trip.

President (n.)

The head of a country or organization

Example:The President gave a speech.

interest (n.)

The cost of borrowing money or curiosity

Example:The bank charges interest on loans.

rates (n.)

Amounts charged for services or money borrowed

Example:The interest rates are high this year.

economy (n.)

The system of producing, buying, and selling goods

Example:The economy is growing slowly.