New Leader for the US Central Bank

Apr 29, 2026, 21:28
Middle EastPolitics

Introduction

Jerome Powell is the leader of the Federal Reserve. He will stop being the leader on May 15. But he will stay as a member of the bank's board. Kevin Warsh will be the new leader.

Main Body

Jerome Powell wants to stay on the board. He says the bank needs to be stable. He is angry because the government looked at the bank's building costs. He thinks the government tried to control the bank. Kevin Warsh is the new leader. He wants to lower interest rates. But he cannot do this alone. He needs other members to agree. Right now, prices for things are too high. This is because of a war in Iran. Some people in the bank disagree. Some want lower rates because companies do not hire many people. Others want high rates to stop high prices. Now, two former leaders will be on the board. This might cause more arguments.

Conclusion

The bank has a new leader. But the people inside the bank and the government still disagree.

Learning

💡 The 'Wants' Pattern

In this text, we see how to talk about goals and desires using want. It is one of the most useful words for A2 students because it connects a person to an action.

The Formula: Person →\rightarrow want(s) →\rightarrow to →\rightarrow Action

Examples from the text:

  • Jerome Powell wants to stay... →\rightarrow (His goal: staying)
  • Kevin Warsh wants to lower... →\rightarrow (His goal: lowering rates)
  • Some want lower rates... →\rightarrow (Here, 'want' is followed by a thing, not an action)

🚩 Contrast: Now vs. Future

Look at how the text moves from what is happening now to what will happen later:

NOW (Present)LATER (Future)
Prices are too highHe will stop being leader
He is angryThis might cause arguments

Quick Tip: Use will when you are 100% sure about the future. Use might when you are guessing.

Vocabulary Learning

leader (n.)
person who leads領袖
Example:The leader of the team decided to start early.
board (n.)
group that makes decisions董事會
Example:The board will meet next week to discuss the budget.
stop (v.)
end or cease停止
Example:She will stop by the store after work.
stay (v.)
remain in a place留下
Example:He will stay at the hotel for two nights.
member (n.)
part of a group成員
Example:Each member has a vote in the meeting.
wants (v.)
desires想要
Example:She wants a new phone for her birthday.
stable (adj.)
steady and not changing穩定的
Example:The economy needs to be stable.
angry (adj.)
feeling upset生氣的
Example:He was angry when he heard the news.
government (n.)
group that runs a country政府
Example:The government announced new policies.
building (n.)
structure with a roof建築物
Example:The building on the corner is very tall.
costs (n.)
amount of money needed成本
Example:The costs of the project were higher than expected.
control (v.)
manage or command控制
Example:The manager will control the team’s schedule.
lower (v.)
make less降低
Example:The bank will lower the interest rates next month.
interest (n.)
money paid for borrowing利息
Example:Interest on the loan is 5% per year.
rates (n.)
percentages or prices利率
Example:The rates for the service are very competitive.
cannot (adv.)
not able to不能
Example:I cannot attend the meeting today.
alone (adj.)
by oneself獨自的
Example:She prefers to work alone.
need (v.)
require需要
Example:We need more staff to handle the workload.
agree (v.)
consent同意
Example:They agree on the new plan.
prices (n.)
costs of goods價格
Example:The prices of groceries have risen.
high (adj.)
tall or large高的
Example:The mountain is high and snowy.
war (n.)
armed conflict戰爭
Example:The war caused many refugees to flee.
people (n.)
humans人們
Example:People in the city are busy.
disagree (v.)
not agree不同意
Example:They disagree about the best approach.
hire (v.)
employ雇用
Example:The company will hire new interns.
companies (n.)
businesses公司
Example:The companies in the sector are growing.
arguments (n.)
disagreements爭論
Example:The arguments between them were heated.
new (adj.)
recent新的
Example:The new policy was well received.
still (adv.)
yet or even仍然
Example:He still hasn't finished his work.
bank (n.)
financial institution銀行
Example:The bank offers many services.