All articles tagged with #fed chair
Republican lawmakers on the Senate Banking Committee appear ready to clear Kevin Warsh for Fed chair by downplaying Powell’s criminal probe or pressing for its resolution, even as Sen. Thom Tillis withholds his vote. Tillis’s hold blocks Warsh’s committee path, but Tim Scott and other GOP members signal support if the investigation is resolved, meaning a closed probe could unlock easy floor confirmation.
Sen. Tim Scott said Powell did not commit a crime during his Senate testimony and predicted Sen. Thom Tillis will drop his blockade of Kevin Warsh’s Fed chair nomination; Tillis has vowed to oppose Warsh until the DOJ probe into Powell ends. Scott criticized Powell as unprepared but insisted the inquiry does not imply criminal conduct, as Trump pressures the Fed on rate decisions and the investigation surrounding Powell’s testimony continues.
U.S. Treasury yields climbed after the ISM manufacturing index beat expectations, signaling stronger factory activity as investors weigh President Trump’s nomination of Kevin Warsh for Fed chair and monitor a delayed January jobs report amid changing rate-cut expectations.
Markets welcomed Kevin Warsh as a credible, independent Fed chair candidate, sending the dollar higher while risk assets fell on Friday as tech softness weighed on major indexes. Spot gold dropped about 9% and spot silver plunged 31.4% for its worst day since 1980, with bitcoin also retreating; other headlines include AstraZeneca seeking closer U.S. ties after China investment and upcoming earnings from Alphabet and Amazon.
President Trump’s pick to lead the Fed, Kevin Warsh, has crypto markets weighing a bitcoin–dollar dynamic: he’s praised bitcoin as “gold for anyone under 40” while also signaling a hawkish policy stance and maintaining ties to stablecoins and early bitcoin ETFs. The nomination sparked a price dip in bitcoin, but Warsh’s comments suggest crypto could inform policy and fit into broader discussions about stablecoins and CBDCs, all set against a backdrop of rising debt and questions about monetary dominance. It’s early to discern his exact policy path until he resumes duties at the Fed.
President Trump nominated Kevin Warsh for Fed Chair, praising his crisis-era Federal Reserve background and private-sector experience. The nomination drew broad bipartisan and business support, with lawmakers and industry leaders emphasizing Warsh’s qualifications and commitment to the Fed’s mandate. Confirmation is anticipated, with discussions expected on independence, credibility, and modernizing the Fed’s transparency and policy approach.
POLITICO Playbook centers on Trump’s imminent Fed chair decision, with Kevin Warsh mentioned as a likely pick after the president’s remarks, while JD Vance’s Minneapolis restaurant story about off-duty ICE/CBP officers prompts competing accounts from DHS and local police. The newsletter also surveys looming government funding talks that could trigger a shutdown, Trump’s broader policy moves and weekend programming, and other intra‑administration dynamics shaping the political landscape.
President Trump says he will announce his choice to replace Jerome Powell as Fed chair Friday morning, narrowing the field to four finalists—Kevin Warsh, Kevin Hassett, Christopher Waller and Rick Rieder—as Powell's term ends in May and markets weigh the contenders.
President Trump says he will announce his nominee for Federal Reserve chair Friday morning, signaling a push for a faster pace of interest-rate cuts. Reported frontrunners include Kevin Hassett and Kevin Warsh, though no nominee has been named yet. The move comes as Trump has clashed with Fed Chair Jerome Powell over rate cuts, and as Powell faces DOJ subpoenas tied to a renovation project, potentially complicating Senate confirmation.
Markets currently peg BlackRock’s Rick Rieder as the frontrunner to replace Jerome Powell as Fed chair, but the race remains volatile with Kevin Warsh and Kevin Hassett still in the mix and President Trump weighing loyalty against policy preferences; Rieder’s market-focused background, his call for a roughly 3% funds rate, and his support for Fed independence could both help and hinder his bid depending on White House priorities.
Treasury Secretary Scott Bessent says President Trump may decide on the next Federal Reserve chair as early as next week, with four candidates remaining and Trump having spoken to all of them. He also called Powell's Supreme Court appearance a mistake and stressed Fed independence, while expressing optimism about a nascent productivity boom in the U.S.
JPMorgan CEO Jamie Dimon said he was not asked to be Federal Reserve chair, a denial that followed Trump’s rejection of a Wall Street Journal report that he offered the post; the bank affirmed the president's assertion and noted it opposes political debanking, while Dimon also supports Fed independence and JPMorgan has opposed a proposed 10% credit-card interest cap.
President Trump said he will sue JPMorgan Chase within two weeks over alleged debanking after the Jan. 6 Capitol riot, claiming the bank restricted his accounts under pressure from the Biden administration. JPMorgan denies political motives. The dispute ties into Trump’s broader ‘debanking’ narrative and notes Dimon’s floated roles and related discussions, which Dimon has publicly disputed.
President Trump signaled he may keep Kevin Hassett in his current White House role, sending the Fed chair race into a new phase as Kevin Warsh’s odds jumped. Prediction markets showed Warsh favored (Kalshi around 58%, Hassett about 17%), with Polymarket echoing the tilt, and markets reacting to the Trump remarks amid broader concerns tied to Powell’s situation and Senate confirmation dynamics. Analysts say Warsh would likely be dovish like Hassett but could shift if the economy strengthens, making the outcome contingent on political timing and Senate approvals.
President Donald Trump signaled reluctance to nominate Kevin Hassett as Fed chair, saying he’d rather keep Hassett in his current White House role, a stance that could reshape the race to succeed Powell and boost former Fed Governor Kevin Warsh; analysts say the comments complicate a Senate-confirmation process already strained by a DOJ probe into the Fed, while markets moved on the news as the administration weighs candidates who can win confirmation and align with Trump’s policy goals.