US EditionTrump nominates Kevin Warsh for Federal Reserve chair to succeed Jerome Powell
- 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.
476 Articles
476 Articles
Trump to nominate former Fed governor to replace Powell as chair
Kevin Warsh, second from left, listens during a panel discussion at the Semafor 2024 World Economy Summit on April 18, 2024, in Washington, D.C. (Photo by Tasos Katopodis/Getty Images for Semafor)WASHINGTON — President Donald Trump’s new Federal Reserve chair pick likely faces headwinds in the U.S. Senate, as a key lawmaker opposes the administration’s ongoing criminal probe of current Fed leader Jerome Powell. Trump announced early Friday he’s …
The audacity of Trump’s choice as Fed chief
The Senate needs to probe Kevin Warsh, the nominee to head the central bank, on his ideas about the creative role of Americans in fighting inflation. By probing nominee Kevin Warsh on his views about tapping the ingenuity of Americans to fight inflation, the Senate may uncover new thinking on a bold approach.
The US president, Donald Trump, announced this Friday that he nominated Kevin Warsh, a former governor of the Federal Reserve (Fed, central bank), to be the next president of that institution. “I have known Kevin for a long time, and I have no doubt that he will become one of the great presidents of the Fed, perhaps at the best,” Trump wrote on his Truth Social platform. “He will never leave you lying down,” he added.Warsh must replace the curre…
Trump taps Kevin Warsh to lead the Federal Reserve, setting up a high-stakes confirmation fight
Donald Trump said on Friday he will nominate Kevin Warsh, a former Federal Reserve governor, to become the next chair of the U.S. central bank, replacing Jerome Powell when Powell’s term as chair expires in May. The announcement, delivered via Truth Social, follows months of speculation over who would inherit the world’s most consequential monetary-policy job.
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