Warsh Sworn In As Fed Chair | Balance of Power: Early Edition 5/22/2026
Speakers
Sanjay Mehrotra
— CEO, Micron
Rob Kaplan
— Goldman Sachs Vice Chairman, former Dallas Fed President
Summary
Kevin Warsh is sworn in as the 17th Federal Reserve chair, with President Trump urging independence. The geopolitical situation with Iran remains tense, with the Strait of Hormuz closed and potential for renewed military strikes. Micron CEO Sanjay Mehrotra announces expanded U.S. memory chip production and predicts the chip shortage will last beyond 2026 due to AI demand.
- Kevin Warsh officially becomes Fed chair, promising reform-oriented leadership.
- President Trump tells Warsh to be independent, despite past pressure on the Fed.
- Iran conflict escalates with the Strait of Hormuz closed and drone attack on UAE nuclear plant.
- Senator Roger Wicker urges the U.S. to 'finish the job' in Iran, raising risk of weekend strikes.
- Former Dallas Fed President Rob Kaplan says the next Fed move could be a rate hike, not a cut.
- Micron begins manufacturing advanced DRAM at its Manassas, Virginia plant.
- Micron CEO says memory chip shortage will continue well past 2026, with new supply not ramping until 2028.
- Micron shares are up over 700% in the past year, reflecting strong AI-driven demand.
Trade Ideas
Memory chip shortage beyond 2026
Memory chip shortage will persist well beyond 2026 due to surging AI demand and long lead times for new fabrication plants. Micron is investing heavily in U.S. capacity (Manassas, Boise, Syracuse) to ramp supply, but meaningful new supply will not come until 2028, keeping the market tight and supporting Micron's pricing and earnings.
Up Next
This Bloomberg Markets video, published May 22, 2026, features Sanjay Mehrotra discussing MU. 1 trade idea extracted by AI with direction and confidence scoring.
Speakers: Sanjay Mehrotra · Tickers: MU