Business

Fed Chair's New Role and Oil Supply Disruptions

Updated 2026-05-19 16:35 UTC 1 source Neutral

President Trump suggested he would let incoming Federal Reserve chair Kevin Warsh 'do what he wants to do' with interest rates, a shift from his previous pressure. Meanwhile, crude oil is being rerouted due to the near-standstill at the Strait of Hormuz.

Coverage timeline — 2 articles

MarketWatch

Crude oil is going the long way around the world as countries scramble to plug Hormuz supply hole

The near-standstill at the Strait of Hormuz has forced countries to get much-needed energy products via routes that were relatively quiet only a few months ago.

2026-05-19 16:14 UTC

MarketWatch

Trump says he’ll let Warsh ‘do what he wants to do’ with interest rates. It’s a remark that Fed watchers have been bracing for.

President Donald Trump on Tuesday shifted his message for the Federal Reserve, suggesting he’ll give some slack to incoming Fed chair Kevin Warsh after putting unprecedented pressure on the U.S. central bank for more than a year.

2026-05-19 16:26 UTC