US EditionTrump nominates Kevin Warsh for Federal Reserve chair to succeed Jerome Powell
Trump nominated Kevin Warsh, a former Fed governor and critic of current policies, to succeed Jerome Powell as Fed chair with a focus on lower interest rates and Fed reform.
- On Friday, global financial markets moved after reports pointed to Kevin Warsh as U.S. President Donald Trump's likely Fed nominee, with the dollar and bond yields jumping while stocks steadied.
- In recent months, President Donald Trump has sought to shape Fed policy through appointments, with Kevin Warsh, a former Fed governor, publicly arguing for lower borrowing costs, despite his reputation as hawkish.
- On prediction markets, odds surged to 94 per cent from 35 per cent, and S&P 500 futures fell 0.3% while Bitcoin hit two-month lows.
- Traders scaled back expectations for policy easing, repricing the Fed outlook as Fed funds futures place an 84.6 per cent probability on a hold, and Tim Waterer said markets may need to rein in expectations if Warsh is nominated.
- Amid lingering confirmation questions, officials warn the process may be prolonged, as Jerome Powell, Federal Reserve chair, term ends in May and U.S. Senate stand-offs over independence and subpoenas create uncertainty.
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648 Articles
Kevin Worse was already on the Fed's board during George Bush and Barack Obama's time.
The Markets Are Getting Used to Trump
This is an edition of The Atlantic Daily, a newsletter that guides you through the biggest stories of the day, helps you discover new ideas, and recommends the best in culture. Sign up for it here. Trying to parse market reactions to world events can feel a bit like armchair psychology. Lately, investors seem to be holding something back—amid a barrage of potentially seismic decisions from the White House, markets have barely budged. In moments …
US Stocks Fall, as Investors Fret Over Trump's Fed Nominee, Earnings, Inflation
Wall Street’s main indexes closed lower on Friday as investors viewed President Donald Trump’s nomination of former Federal Reserve Governor Kevin Warsh as a hawkish choice to succeed Federal Reserve Chair Jerome Powell, while also digesting earnings reports and a high inflation reading. On top of assessing the risks from U.S. tensions with countries including Iran, investors were also worried about the prospect of another U.S. government shutdo…
With the Republicans, unexpected resistance to Kevin Warsh's nomination as the new head of the US Federal Reserve is emerging.
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