All articles tagged with #warsh
Fed officials remain divided on AI’s impact on policy: former governor Kevin Warsh argues AI adoption could boost productivity and justify lower rates, while Fed Governor Michael Barr says the AI boom is unlikely to meaningfully push rates down in the near term and warns that productivity gains could lift the neutral rate, suggesting only limited or gradual easing ahead.
Sen. Thom Tillis says Kevin Warsh’s bid to be Fed chair could face a long confirmation due to restrictions on a nominee’s business life, and he will oppose any Fed confirmation until the DOJ resolves its investigation into Chair Jerome Powell, casting doubt on Warsh’s path as Trump’s pick awaits Senate action.
As Fed Chair Jerome Powell’s term ends in May and Kevin Warsh is nominated to succeed him, markets anticipate rate cuts paired with balance-sheet shrinkage. The piece highlights three ETFs that could benefit: Financial Select Sector SPDR (XLF) for banks from lower rates, iShares Core S&P Small-Cap (IJR) for rate-sensitive small caps, and iShares US Real Estate (IYR) for REITs that historically outpace stocks after easing cycles. Consider XLF, IJR, and IYR as potential beneficiaries amid the policy shift.
Sen. Elizabeth Warren is leading Democrats against Donald Trump’s pick for Fed chair, Kevin Warsh, arguing his past hawkish stance raising the prospect of political influence over policy would undermine the Fed’s independence. With Republicans in the Senate majority, her effort to delay or derail Warsh faces an uphill battle as the nomination moves forward amid broader tensions over inflation, Powell’s leadership, and political pressure on the central bank.
Trump’s pick for Fed chair, Kevin Warsh, would push to curb the Fed’s regulatory powers and hand some supervision to the Treasury, signaling an aggressive deregulation agenda that could reshape banking oversight and affect Basel III and liquidity rules if confirmed.
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.
Sen. Thom Tillis pledges to block Kevin Warsh's Fed nomination until the Justice Department completes its probe into Fed Chair Jerome Powell over HQ renovation costs, and says he’d maintain the blockade even if DOJ drops the inquiry in exchange for Powell leaving the Fed after his term; Powell could stay on the board as a governor for up to two more years, and Tillis criticizes the subpoenas as premature.
Federal Reserve governor Stephen Miran has resigned as chair of the White House Council of Economic Advisers to honor a pledge if he stayed on the Fed past January, and will remain on the Fed board until a successor is confirmed. Trump has nominated former Fed governor Kevin Warsh to be the next Fed chair, a move that would replace Miran on the board, with acting chair Pierre Yared considered for permanence. The piece also notes ongoing DOJ investigations into Powell and Lisa Cook and Democratic opposition to Warsh’s nomination.
Sen. Thom Tillis vows to block any Federal Reserve nominees, including Kevin Warsh, until the DOJ finishes its investigation into Jerome Powell’s Senate testimony, arguing that a pardon would not resolve the case or protect Fed independence; the live updates also cover DHS funding stopgap and other Capitol Hill headlines.
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.
Gold futures slipped about 3.6% to roughly $5,160/oz and silver futures tumbled around 9.5% to about $103.58/oz after President Trump named Kevin Warsh to lead the Federal Reserve, reversing a January rally driven by safe-haven demand. The dollar ticked higher as traders weigh Warsh’s hawkish history against Trump’s push for looser policy, signaling continued volatility for precious metals with key levels near $5,000 for gold and $100 for silver in the crosshairs.
President Trump nominated Kevin Warsh, a former Fed governor, to head the Federal Reserve, signaling a push for central-bank independence while leaning on Warsh’s hawkish reputation. Warsh, 55, has been a longtime Fed critic who argues for policy shifts such as shrinking the balance sheet to influence rates; Trump cited him as a potential great Fed chair. The nomination, announced on Truth Social, could face Senate resistance from Republicans like Sen. Thom Tillis until a Powell-related legal matter is resolved. Markets reacted to the news with a stronger dollar and lower gold prices, and Warsh’s stance will be closely watched for signs of how independent the Fed would be under his leadership.
Gold and silver prices plunged after President Trump named Kevin Warsh as the next Fed chair, with spot silver down about 10% (after earlier drops of as much as 16%) and spot gold off roughly 5–7%, as traders priced in potential dollar stabilization and shifts in monetary policy risk. Futures for gold and silver also fell, while other precious metals and related ETFs declined. Analysts cautioned against overreacting to the nomination, noting a broader market re‑assessment after a year of rallying on dollar weakness and geopolitical tensions. The moves spilled into mining stocks and ETF products that track precious metals.
Gold gave back recent gains, dropping over 5% to around $5,084/oz after reaching a fresh high near $5,318, as bets on Kevin Warsh becoming Fed chair spurred a stronger dollar. Silver fell beneath $100/oz (about $99.60), with platinum and palladium also tumbling, and base metals broadly weaker. Analysts note that dollar strength and the Fed outlook will continue to drive moves, highlighting key near-term levels at $5,000 for gold and $100 for silver while Wall Street's bullish price targets face a more volatile path.