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Steam News24 May 20261mo ago

Kevin Warsh Mode — Now Available!

The newest scenario in Federal Reserve Simulator puts you in charge of the Fed during its most turbulent era yet.

Full notes

Full Federal Reserve Simulator update

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What changed

0 fixes2 additions3 changes0 removals
  • Gameplay
  • Balance
  • Performance
addedA new independence mechanic tracks the political pressure bearing down on your chairmanship every quarter. Hold rates too high and presidential fury builds — public attacks, then a DOJ investigation, then a formal removal threat. Cave to get relief and the FOMC's hawk bloc, led by Powell and Waller, turns on you instead. Board dissent fills as loose policy feeds inflation. Stay independent and you survive. Capitulate either way and you don't.
changedMid-term, a wave of AI deployment supercharges GDP and corporate profits while displacing workers at scale. The stock market rips. Unemployment climbs. Your dual mandate cracks in two — the tool that fixes one side of the K-shaped economy makes the other side worse. Ease into the boom to chase the jobs number and you inflate the bubble. Hold rates and answer for workers the market left behind.
changedThe Bubble — and the Crash
changedBy 2032, AI valuations have detached from earnings entirely. Greenspan faced this exact choice in 1996 with dot-com stocks. You know how his story ended. 2033 arrives, and the correction comes regardless. The question is whether you cushioned it or let it spread into the real economy.
addedNew Achievement: Warsh's Resolve

Federal Reserve Simulator changes

addedA new independence mechanic tracks the political pressure bearing down on your chairmanship every quarter. Hold rates too high and presidential fury builds — public attacks, then a DOJ investigation, then a formal removal threat. Cave to get relief and the FOMC's hawk bloc, led by Powell and Waller, turns on you instead. Board dissent fills as loose policy feeds inflation. Stay independent and you survive. Capitulate either way and you don't.
changedMid-term, a wave of AI deployment supercharges GDP and corporate profits while displacing workers at scale. The stock market rips. Unemployment climbs. Your dual mandate cracks in two — the tool that fixes one side of the K-shaped economy makes the other side worse. Ease into the boom to chase the jobs number and you inflate the bubble. Hold rates and answer for workers the market left behind.
changedThe Bubble — and the Crash
changedBy 2032, AI valuations have detached from earnings entirely. Greenspan faced this exact choice in 1996 with dot-com stocks. You know how his story ended. 2033 arrives, and the correction comes regardless. The question is whether you cushioned it or let it spread into the real economy.
addedNew Achievement: Warsh's Resolve

The newest scenario in Federal Reserve Simulator puts you in charge of the Fed during its most turbulent era yet. Kevin Warsh, former Fed Governor and long-time inflation hawk, takes the chair in Q2 2026 amid dual pressure from his own board and the president that appointed him.

The Setup

You inherit 4.3% inflation from the previous era. The White House wants 100 basis points of cuts immediately and isn't keeping that preference private. Jerome Powell — the man you replaced — is still in the building. He's now a Governor, he's hawkish, and he's watching every move you make.

You have eight years. Three forces will define them.

Fed Independence Under Fire

A new independence mechanic tracks the political pressure bearing down on your chairmanship every quarter. Hold rates too high and presidential fury builds — public attacks, then a DOJ investigation, then a formal removal threat. Cave to get relief and the FOMC's hawk bloc, led by Powell and Waller, turns on you instead. Board dissent fills as loose policy feeds inflation. Stay independent and you survive. Capitulate either way and you don't.

The First Jobless Boom of the AI Age

Mid-term, a wave of AI deployment supercharges GDP and corporate profits while displacing workers at scale. The stock market rips. Unemployment climbs. Your dual mandate cracks in two — the tool that fixes one side of the K-shaped economy makes the other side worse. Ease into the boom to chase the jobs number and you inflate the bubble. Hold rates and answer for workers the market left behind.

The Bubble — and the Crash

By 2032, AI valuations have detached from earnings entirely. Greenspan faced this exact choice in 1996 with dot-com stocks. You know how his story ended. 2033 arrives, and the correction comes regardless. The question is whether you cushioned it or let it spread into the real economy.

New Achievement: Warsh's Resolve

Earn an A grade as Kevin Warsh. That means: tame the inherited inflation without caving to political pressure, land the AI-driven jobless boom softly, keep the Fed independent through removal threats, and navigate the bubble correction without a depression. The full eight years. The hardest A in the game.

Kevin Warsh Mode is available from the main menu now.

Source

Steam News / 24 May 2026

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