The following was produced and published by Rask Podcasts, April 2026
With a major leadership change looming at the US Federal Reserve, what could it mean for monetary policy, inflation, and Australian investors? Kapstream’s Kris Bernie joins the Australian Investors Podcast to unpack the implication
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.
Podcast – Listen now
This material has been prepared by Kapstream Capital Pty Limited (ABN 19 122 076 117 AFSL 308870) (Kapstream). It is general information only and is not intended to provide you with financial advice or take into account your objectives, financial situation or needs. To the extent permitted by law, no liability is accepted for any loss or damage as a result of any reliance on this information. Any projections are based on assumptions which we believe are reasonable but are subject to change and should not be relied upon. Past performance is not a reliable indicator of future performance. Neither any rate of return nor capital invested are guaranteed.
