US EditionTrump nominates Kevin Warsh for Federal Reserve chair to succeed Jerome Powell
Trump nominated Warsh, a former Fed governor, to lead the Federal Reserve amid political disputes and DOJ probes, with Senate confirmation facing opposition from key senators.
- 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.
677 Articles
677 Articles
Kevin Warsh's appointment as head of the U.S. Federal Reserve led to a fall in gold prices. The financial markets seem to be reassured by this man who advocates lower policy rates.
Richmond Times-Dispatch
Corvallis Gazette TimesTrump chooses Warsh to lead Federal Reserve
WASHINGTON — President Donald Trump's nomination of Kevin Warsh to chair the Federal Reserve could bring about sweeping changes at a central bank that dominates the global economy and markets like no other.
West Hawaii Today
Hoover InstitutionTrump picks Kevin Warsh as Fed chair
President Donald Trump announced Friday that he was nominating Kevin Warsh to serve as the next chair of the Federal Reserve, positioning the former central bank governor to take a pivotal role in steering an institution that has faced a barrage of attacks from the administration over its reluctance to more aggressively lower interest rates.
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