Under Warsh, the Fed could embrace Bessent’s geoeconomic agenda

the treasury secretary bessent wants to use currency swap lines to cement dollar dominance. if warsh takes over at the fed, that geoeconomic agenda could get a real partner. swap lines let central banks exchange dollars for local currency during stress — bessent sees them as a tool for influence, not just crisis management. warsh has been a fed governor before and is seen as more aligned with treasury on strategic use of the dollar. the shift would mean the fed's emergency lending tools get repurposed for long-term geopolitical ends. no timeline or formal proposal yet, but the direction is clear from both treasury and potential fed leadership.