US President Trump nominates Kevin Warsh as Fed Chair

President Trump's nomination of Kevin Warsh as Fed Chair signals a potentially significant shift in the Fed's policy framework.

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Iranian Foreign Minister Araqchi says they are prepared for both war and diplomacy, will respond more and more broadly to any aggression. Contacts continue with regional allies, are optimistic.

US President Trump nominates Kevin Warsh as Fed Chair

EMA CHMP has recommended the following for approval: Fylrevy, Ilumira, Kayshild, Kygevvi, Supemtek & Rezurock.

Iranian Foreign Minister Araqchi says they are prepared to return to talks with the US, on the condition they are based on mutual respect. The US' attitude is contradictory. Not seeking nuclear weapons.

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  • "I have known Kevin for a long period of time, and have no doubt that he will go down as one of the GREAT Fed Chairmen, maybe the best. On top of everything else, he is “central casting,” and he will never let you down"

Full post: 

  • "I am pleased to announce that I am nominating Kevin Warsh to be the CHAIRMAN OF THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM. Kevin currently serves as the Shepard Family Distinguished Visiting Fellow in Economics at the Hoover Institution, and Lecturer at the Stanford Graduate School of Business. He is a Partner of Stanley Druckenmiller at Duquesne Family Office LLC. Kevin received his A.B. from Stanford University, and J.D. from Harvard Law School. He has conducted extensive research in the field of Economics and Finance. Kevin issued an Independent Report to the Bank of England proposing reforms in the conduct of Monetary Policy in the United Kingdom. Parliament adopted the Report's recommendations. Kevin Warsh became the youngest Fed Governor, ever, at 35, and served as a Member of the Board of Governors of the Federal Reserve System from 2006 until 2011, as the Federal Reserve's Representative to the Group of Twenty (G-20), and as the Board's Emissary to the Emerging and Advanced Economies in Asia. In addition, he was Administrative Governor, managing and overseeing the Board's operations, personnel, and financial performance. Prior to his appointment to the Board, from 2002 until 2006, Kevin served as Special Assistant to the President for Economic Policy, and Executive Secretary of the White House National Economic Council. Previously, Kevin was a member of the Mergers & Acquisitions Department at Morgan Stanley & Co., in New York, serving as Vice President and Executive Director. I have known Kevin for a long period of time, and have no doubt that he will go down as one of the GREAT Fed Chairmen, maybe the best. On top of everything else, he is “central casting,” and he will never let you down. Congratulations Kevin! PRESIDENT DONALD J. TRUMP"
Context

Given Warsh's background and past experience, market participants may expect a more hawkish stance, particularly regarding interest rates, which could influence the USD's strength and impact equities and fixed income markets as traders reassess their outlooks under his leadership.

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