Trump has nominated Kevin Warsh, a former Federal Reserve governor who has been a vocal critic of the US central bank, as his pick for the next chair. The move brings an end to months of speculation over who President Trump would choose to replace Jerome Powell, whose second term is set to expire in May.
Warsh, 55, has deep ties to Wall Street and had previously interviewed for the job of Fed chairman in 2017 when Powell was selected instead. Trump's nomination will have to be confirmed by the Senate.
Critics warn that Warsh's dovish stance on monetary policy may make him a more compliant choice for the White House. Some market watchers see his appointment as a safe choice, alleviating concerns over who would pick a full-blown "Trump stooge" for the role.
The dollar strengthened after news of Warsh's expected nomination, but Wall Street traded slightly lower. Gold and silver plummeted in response to the announcement, suggesting that investors are concerned about inflation risks.
Warsh has warned about the risk of inflation, echoing Trump's criticism of the Fed for being too slow to cut interest rates. However, some analysts see his dovish views as a temporary shift, driven by his desire to be seen as a reliable candidate.
Warsh, who has also held roles at UPS and Duquesne Family Office, is married to Jane Lauder, the granddaughter of cosmetics magnate Estée Lauder.
Warsh, 55, has deep ties to Wall Street and had previously interviewed for the job of Fed chairman in 2017 when Powell was selected instead. Trump's nomination will have to be confirmed by the Senate.
Critics warn that Warsh's dovish stance on monetary policy may make him a more compliant choice for the White House. Some market watchers see his appointment as a safe choice, alleviating concerns over who would pick a full-blown "Trump stooge" for the role.
The dollar strengthened after news of Warsh's expected nomination, but Wall Street traded slightly lower. Gold and silver plummeted in response to the announcement, suggesting that investors are concerned about inflation risks.
Warsh has warned about the risk of inflation, echoing Trump's criticism of the Fed for being too slow to cut interest rates. However, some analysts see his dovish views as a temporary shift, driven by his desire to be seen as a reliable candidate.
Warsh, who has also held roles at UPS and Duquesne Family Office, is married to Jane Lauder, the granddaughter of cosmetics magnate Estée Lauder.
anywayz, i think this is gonna be interesting 2 watch how senate confirms him 
he's putting warsh in charge now... i think this is a bad move lol warsh has been saying some pretty anti-fed stuff and i'm worried that trumps gonna use him to control the economy even more 
and those market watchers are just trying to downplay it, but everyone knows trump loves to play with fire when it comes to the dollar 
gold & silver plummeting? not good signs for inflation 
So now we've got Kevin Warsh, a guy with ties to Wall Street, being nominated for Fed chair 
The dovish stance is just code for "I won't rock the boat" 
And good luck trying to get Senate approval, that's gonna be a wild ride 
The dollar goes up, gold and silver plummet... just what we needed more volatility 
, but I guess having the Estée Lauder name is better than nothing 
. Can't wait to see how this plays out 
gold and silver plummeted when the news dropped btw what does that say about people's views on inflation risks?
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