Kevin Warsh is the New Leader of the Federal Reserve

May 13, 2026, 22:16
GlobalFinance

Introduction

The U.S. Senate chose Kevin Warsh as the new leader of the Federal Reserve. He replaces Jerome Powell. Prices for goods are high right now.

Main Body

Kevin Warsh is the new boss of the bank. He thinks AI can help the economy. But prices are still rising. This is because energy costs are high due to problems with Iran. President Trump is visiting China. He wants to fix trade problems between the two countries. The U.S. also wants more military bases in Greenland. The government has new money problems. A new missile system will cost 1.2 trillion dollars. The government also wants to stop the tax on gas for a short time.

Conclusion

Kevin Warsh starts his new job. The U.S. government still has many problems with other countries and money.

Learning

💡 The 'Who does what' Pattern

In this text, we see how to describe people and their roles simply. Look at these examples:

  • Kevin Warsh →\rightarrow is the new leader.
  • President Trump →\rightarrow is visiting China.

Quick Rule: Use 'is' when talking about a job or a fact. Use 'is visiting' when the person is doing something right now.

💰 Talking about Money & Cost

Notice how the text describes money moving or costing:

  1. Prices are high (The cost of things is a lot).
  2. A system will cost 1.2 trillion dollars (Future price).

Vocabulary to remember:

  • High →\rightarrow Expensive
  • Cost →\rightarrow The price of something
  • Tax →\rightarrow Extra money paid to the government

🌍 Simple Connections

To explain why something happens, the text uses 'because' and 'due to':

extProblem←because←extReason ext{Problem} \leftarrow \text{because} \leftarrow ext{Reason}

Example: Prices are rising →\rightarrow because →\rightarrow energy costs are high.

Vocabulary Learning

leader
person who heads or directs a group
Example:She is the leader of the class.
leader (n.)
a person who guides or directs a group
Example:The leader of the team made sure everyone followed the plan.
prices
amount of money needed to buy something
Example:The prices of bread are rising.
economy (n.)
the system of making and using money and goods
Example:A strong economy helps people buy more things.
high
at a great height or level
Example:The prices are high right now.
prices (n.)
the amount of money needed to buy something
Example:The prices of bread have gone up.
boss
person who manages or directs others
Example:He is the boss of the store.
energy (n.)
power that makes things work
Example:Solar energy comes from the sun.
bank
place where money is kept and handled
Example:I need to go to the bank to withdraw cash.
missile (n.)
a weapon that flies through the air to hit a target
Example:The missile was launched from the base.
economy
the system of producing, buying, and selling goods
Example:The economy is growing slowly.
government (n.)
the people who run a country
Example:The government announced new rules.
rising
going up or increasing
Example:The prices are still rising.
tax (n.)
money people pay to the government
Example:The tax on gas was reduced.
energy
power or strength used for work
Example:Energy costs are high in winter.
job (n.)
work that someone does for money
Example:She started a new job at the bank.
costs
amount of money needed to buy something
Example:The costs of the project are high.
problems (n.)
difficulties or issues
Example:They faced many problems during the project.
President
the highest official leader of a country
Example:The President signed the new law.
countries (n.)
different nations
Example:Many countries joined the conference.
visiting
going to see or spend time with someone
Example:She is visiting her friend in Paris.
trade (n.)
buying and selling goods between places
Example:Trade between the two countries grew.
fix
to repair or solve a problem
Example:He will fix the broken window.
bases (n.)
places where military units stay
Example:The army built new bases in Greenland.
trade
the buying and selling of goods between countries
Example:Many countries have trade agreements.
countries
different nations or states
Example:The United States and Canada are neighboring countries.
military
the armed forces of a country
Example:The military protects the nation.
bases
places where military units are stationed
Example:The bases are located in several cities.
government
the group that runs a country
Example:The government announced new policies.
money
currency used for buying and selling
Example:She saved money for a trip.
tax
money paid to the government for public services
Example:The tax on gasoline is high.
gas
fuel used to power cars and other machines
Example:He filled up the car with gas.
job
a paid position of work
Example:He started a new job at the office.