Deutsche Bank analysts estimate that under Kevin Warsh, Treasury bills could rise from less than 5% of Fed holdings to as much as 55% over the next 5 to 7 years.

The Defiant Gatekeeper predicts that if Kevin Warsh steps in as the new Fed chair, he will face significant challenges convincing board members to follow his lead due to the division seen in the April 2026 FOMC.

Kevin Warsh wants to renegotiate a new agreement between the Federal Reserve and the Treasury Department to publicly coordinate on the size of the Fed's balance sheet and national debt management.