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.
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580 Articles
With the Republicans, unexpected resistance to Kevin Warsh's nomination as the new head of the US Federal Reserve is emerging.
This 55-year-old businessman is expected to succeed Jerome Powell in May, whose U.S. president continues to lament.
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Daily Montanan
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 …
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