The Globe and Mail reports in its Friday, May 29, edition that Kevin Warsh was sworn in as the new Federal Reserve chair on May 22. The Globe's Rita Trichur writes that Mr. Warsh's appointment raised concerns about potential political interference at the Fed. During the swearing-in ceremony, President Donald Trump, who previously criticized former chair Jerome Powell, said, "I want Kevin to be totally independent," but added, "Thank goodness Kevin understands that when the economy is booming, that's a good thing." Economists and investors are focused on how mixed messaging affects interest rates, while the Fed, under Mr. Warsh, may expedite the Trump administration's effort to loosen bank regulations. There is a growing movement for financial deregulation in the U.S. that could benefit banks, including Canadian lenders with U.S. operations, if it doesn't lead to excessive risk. Leading up to his nomination, Mr. Warsh was dropping hints about his vision for "regime change," stressing the Fed had strayed too far from its core mandate on monetary policy. He said last fall that, if given the choice, he would prefer to limit the Fed's role in banking supervision, believing it should be overseen by political agencies.