3 takeaways for markets as Kevin Warsh gets teed up as the next Fed boss [Business Insider]
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Source: Business Insider
Have an account? Log in Kevin Warsh has been nominated by President Trump to serve as Fed Chair. Trump has long wanted the Fed to lower interest rates at a faster clip. But Warsh may be more hawkish than Trump would like, some economists say. Kevin Warsh is President Donald Trump's pick to be the next Federal Reserve Chair, and t he market reaction was in full swing on Friday. Warsh, who previously served on the Fed's board of governors from 2006 to 2011, is set to take the helm at the central bank in May, pending Senate confirmation The pick came as a bit of a surprise to investors, who sold stocks, gold, and silver on Friday. Trump has long wanted the Fed to lower interest rates at a faster clip, and despite his recent dovish pivot, Warsh has historically advocated for hawkish policy. Still, Warsh's tenure doesn't start for months, and how he'll go about leading the Fed — and the 12 members of its Federal Open Markets Committee, which sets interest rates — remains to
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