New York Times Podcasts
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A New Leader — and a New Showdown — at the Fed
Posted
May 14, 2026
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35:39Now PlayingAfter a year of harassing and threatening Jerome Powell, the chairman of the Federal Reserve, President Trump replaced him on Wednesday.
Colby Smith, who covers the Fed, explains how the president ended one standoff only to create a new one.
GuestColby Smith () , a New York Times reporter covering the Federal Reserve and the U.S. economy.
Background reading:
• The Senate confirmed Kevin Warsh () as the new chair of the Federal Reserve.
• VideoHow Jerome Powell managed a chaotic era () .
Photo: Kenny Holston/The New York Times, Caroline Gutman for The New York Times
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