Podcast | Inside Trump's pick to replace Jerome Powell
The following was produced and published by Rask Podcasts, April 2026
About this episode
In May 2026, Jerome Powell’s tenure as chair of the US Federal Reserve comes to an end. His replacement is Kevin Warsh — a former Fed governor and Donald Trump’s hand-picked choice to lead the world’s most powerful central bank. The appointment has been anything but quiet, arriving against a backdrop of sustained political pressure from the Trump administration, public attacks on Powell, and a criminal investigation into cost overruns at the Fed building.
But beyond the politics, what does the leadership change actually mean for US monetary policy, for inflation, and critically, for Australian investors and retirees?
To break it all down, Mitchell is joined by Kris Bernie, portfolio manager at fixed income specialist Kapstream Capital. Kris is responsible for macroeconomic research, asset allocation, and interest rate and foreign exchange trading - which means he watches the Federal Reserve more closely than most.
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This is general information only and does not take into account your personal objectives, financial situation or needs. Before acting on the information, consider its appropriateness to your circumstances and read the Product Disclosure Statement (PDS) and target market determination (TMD) on our website. Fidante Partners Limited ABN 94 002 835 592 AFSL 234668 is the responsible entity and issuer of interests in the Kapstream Absolute Return Income Fund and the Kapstream Absolute Return Income Active ETF.
This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser. Access The Rask Group's Financial Services Guide (FSG): https://www.rask.com.au/fsg