Warsh might propose certain strategies for the Fed, but according to Daly, the current economic situation could demand an alternative approach

Mary Daly Comments on Incoming Fed Chair Kevin Warsh

Speaking at the Spring 2026 Policy Advisory Board meeting hosted by UC Berkeley’s Fisher Center for Real Estate & Urban Economics, San Francisco Federal Reserve President Mary Daly remarked that although Kevin Warsh, the nominee for Federal Reserve chair, will arrive with his own strategies for the central bank, he will ultimately have to adapt to the unexpected developments the economy presents. Daly noted, "He may begin with certain priorities in mind, but the real challenges will be shaped by the economic realities that unfold—just as every Fed chair since Paul Volcker has experienced. That’s the true path of leading the Fed."